There has been quite a bit of news so far in 2019 with lots of sensationalism in the media.
It has been more mundane at GPS, its just about “getting on with business”.
We were mostly unaffected by the findings of the royal commission. The banks now look like they must act in the best interest of investors. GPS has had this requirement for over 20 years.
I wonder how long it will take the banks to work out that it is all about developing a symbiotic relationship between investors and borrowers. If you do the right thing by both, then everyone does well.
The property market is getting tougher, but the right product in the right areas continues to sell. There is not a blanket decline in prices.
Fortunately for GPS and its investors, the pullback by the banks from our type of lending continues to see funding contract more than the sales market. This allows us to be even more discerning in which projects we fund.
In a recent update you will see that we have a number of subsequent stages of projects coming up for investment. I love it when a plan comes together.
How better to ride through uncertain times than with proven performers for proven products?