Obaid Naqebullah: Overcoming the Challenges of Property Development

Property developers like Obaid Naqebullah say it's a challenging time to be a developer. There are many factors all at play which have created a perfect storm that property developers are trying to push through in their bid to build more homes.
"Our costs continue to increase. Skilled labour is under pressure. Viability is being tested. Financiers are not always patient. The current property environment has certainly not been smooth sailing," says Obaid Naqebullah.
The rapid succession of interest rate rises over the last 18 months has also contributed to the challenges of property development - across all sides of the property industry. Higher borrowing costs, reduced profit margins and economic uncertainty have all presented hurdles to overcome says Obaid Naqebullah.
Lower interest rates could just be the catalyst to lighten the load on property developers and encourage greater investment in property development to solve the challenge of Australia's undersupplied housing market.