While most of the team at GPS are glued to the spreadsheets on their screens, I remain old school to work the GPS loan pipeline. I have it all up on a white board in my office.
The main reason for doing this is that it illustrates a bigger picture of the current market.
Numbers do not mean much unless you fully understand the GPS business, so I will put it into perspective by simply noting that it would take GPS over a year to work all loans through to settlement. This is the strongest loan pipeline I have seen in my 20 plus years in the industry.
Some other anecdotal evidence is that:
My take on the above is it again demonstrates that the credit squeeze on residential development lending is here. I also believe it shows that the supply of new product will slow dramatically once current projects are completed, which should start to put some heat back into the Brisbane market in 2018.