As we near the end of 2010, it is interesting to reflect on the events of the past 12 months and their impact on the demand for the services that IBC provides to our clients.Much of our work has been associated with mother nature - the Christchurch quakes, weathertightness remediation, the effects of sunlight on fascia cladding, land slips and fire damage reports are some examples.
5 years ago, 90% of our building consultancy advice was provided to address issues in a reactive fashion for clients, with the remaining 10% being proactive advice to improve asset value. Now the percentages are 30% / 70%, with an ever increasing demand for advice on asset value and building / development performance improvement.
At the recent Property Council Conference in Christchurch, delegates heard how the next year or two will continue to be tough on developers looking to create workable projects with a reasonable return on investment. There is still concern over the world economic situation, with Ireland struggling for cash and other European nations heading the same way. The uncertainty will no doubt continue. Like mother nature, change is inevitable and adapting to that change is critical.
IBC help deal with change by providing advice that can prevent future problems, and that maintains and enhances asset value; as well as advice that reactively resolves building and property related issues. Next year, new legislation like the new Unit Titles Act will impact on the type of advice that clients are seeking as increased emphasis goes onto building lifecycle planning. The most profitable developments will be those that offer a client a 'whole of life' solution and long term maintenance strategy & sinking fund analysis, not those that go up based on a simple capital budget.
The team at IBC is growing and we are very grateful to our clients, old and new, for their continued support. We are delighted to have secured a partnership arrangement with SPM Assets in New Zealand to help us provide our clients with 'deeper' asset management advice. SPM Assets are market leaders in the asset management space and work throughout Australasia, South Africa and Europe.
It has been a tough and challenging year. We look forward to working with you next year and trust that you will enjoy a relaxing Christmas and New Year break.
No doubt mother nature will have more change in store for us during 2011!
Peter Harris and the IBC team
Image: hinnamsaisuy / FreeDigitalPhotos.net
