There has been a lot of negative vibes in the land industry since interest rates started rising.
There are some that have now chosen to offer discounts by way of rebates or just reducing prices. This does no one in the industry any favours, it affects valuations that could lead to difficulties when the current lots sold and under construction need to settle.
Whilst sales have slowed across the projects, Latitude are engaged to sell, and we are still making sales. Whilst our primary focus is to make sales today, we are also working hard to build our project databases with good quality enquiries for land. We are confident the market will improve, driven by the severe shortage of residential properties in Victoria and the return of migration, with most of the migrants wisely choosing Victoria as their new home base.
The team at Latitude has recently written a book called ‘Guide To Buying Land In Victoria”. This book has been individually tailored around each project. The first edition is the Thornhill Central version. Whilst educating the buyer on such things as, Design Guidelines, Reading Engineering Plans, Deposit Procedures, Negotiating and Loan and much, much more; it also highlights the benefits of the land project – Thornhill Central.
These books will be promoted through EDM’s out to the projects existing client database encouraging them to re-visit the sales office to receive a hard copy of the book. This is a great opportunity for the Latitude team to re-engage with our clients on the database. The book will also be promoted through digital marketing and social media, encouraging those interested in land to register and receive a soft copy download.
We believe the majority of people that register to receive a copy of our book will be potential buyers for today or when the market picks up which we are now confident won’t be too far away.
If you are a developer please consider Latitude for your next project.
