Tim Alder from Alder & Co Property Valuers is a property valuer with over 30 years of experience and has been a client of Marco’s since the inception of Piteo Accounting & Advisory. Alder & Co provide services all the way from Gawler, to Adelaide Metro, to Victor Harbor and can assist you with valuations for all purposes including residential, lot entitlement and tax, legal or estate purposes. We wanted to find out why Tim loves working with Piteo Accounting & Advisory and gain some of his insights into the property market.
30 years of experience is a life time, you must love what you do!
Yes, I love property and my working life has always been in property. Property is forever changing and you have to keep up to date with the latest information and I enjoy that challenge.
How has Marco and his team supported your business?
Marco has provided invaluable accounting advice to us and in turn we have been able to provide property valuations for his clients. Marco is easy to communicate with, always takes time to listen and explains everything thoroughly and has a network of other professionals to tap into if needed.
Has working with the Piteo Accounting & Advisory team resulted in business growth/success? How?
Marco and his team have provided us with good, sound, reliable accounting advice in a timely manner and Piteo’s business growth has resulted in more referrals of valuation work by Marco and the team.
How has the landscape changed for valuers given the rapidly moving housing market?
Our clients expect accurate valuations. Over the previous few years, in a steady market, ‘older’ sales data were still relevant. However, in a rapidly increasing housing market, sales a few months earlier may be irrelevant.
Valuers need to be in touch with the best information available ranging from the latest sales data, current economic factors, attending auctions, talking to the current market participants including agents, buyers and sellers, containment of the COVID-19 virus and its impact on buyers.
What do you think has been the biggest driver for the increase to house prices in the last 18 months?
Demand outstripped supply with fewer sellers placing homes on the market, an increase in interstate buyers seeing Adelaide as a safe place to live in the COVID-19 environment. A shortage of building materials has new home building numbers down on the previous year. Buyers have money to spend. COVID-19 has had a positive impact on disposable income through government stimulus packages and less spent on travel, particularly for the wealthy. Other factors include SA’s success in dealing with the COVID-19, low interest rates and low unemployment.
2021 has been such a crazy and unpredictable year for real estate, what do you think we can expect for 2022?
At the start of COVID-19, I don’t think anyone would have forecast the housing market to rise, in fact the major banks were all forecasting a severe drop in property values. The exact opposite occurred.
Recent COVID-19 lockdowns in several states, including SA, are likely to have an impact on the economy and housing markets with less government stimulus available. It is expected that the housing market will have much lower growth in 2022. The outlook remains dependent on the successful containment of the virus.