Working with development and commercial property funding, price is often an obstacle that I come up against. Many people have little understanding of how risk-based pricing works, and it can come as a bit of a shock when pricing is uncovered.
As any developer will know, banks across New Zealand have dropped a couple of belt sizes in the recent years. They’ve moved rapidly from the binge eating of the 5 or so years between 2011 and 2016 straight onto the no-sugar diet. Let’s just hope it doesn’t lead to a sugar crash!
Here I am almost three and a half years into my first decent size property development. Although the end is in sight, it has been painfully slow, like watching paint dry.