Wealthi 4Q21 project construction update
Construction activity across Wealthi’s portfolio of projects has ramped up into the fourth quarter of 2021 following disruptions from mandatory pandemic related lockdowns in the third quarter. Most projects are back to their pre-lockdown activity levels and there is a strong sense of positivity going into the new year.
Wealthi continued to report a 100% settlement rate into the quarter, underpinned by its commitment to quality recommendations. All completed projects in the fourth quarter experienced valuations on or above purchase price, a strong result for purchasers.
Like many global businesses, supply chain disruptions are having an impact on prices experienced by Wealthi’s east-coast based building partners. However Wealthi’s proactive risk mitigation processes mean that many of these pressures are well managed and diversified across projects in different geographies.
New projects coming onto the market are still well below historical levels, indicating that demand will exceed supply particularly in the booming townhouse market. Wealthi recently announced it has added more than $120m of new projects on its platform, the vast majority being low or medium density projects.
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