Assignment 1

Project Proposal/Plan
Contents
Introduction................................................................................................................................3
Aim of the project......................................................................................................................4
Methods......................................................................................................................................4
Conclusion..................................................................................................................................6
Introduction
In spite of continuous COVID infection riots in Melbourne and Sydney, Australian housing
market momentum continues to bind during this week. Major property prices for the capital
city increased another 0.4% this week, up 1.2% to date in June. Actually, residential property
controls all forms of investments in Australia with a cumulative current value of 5.5 trillion
of dollars. Researcher Craig Godber pointed to global precedents combined with feasibility
advantages and demand may assist in inspiring regional developers. To develop a highly
convenient BTR project centre stack at this early stage of the industry evolution in Australia,"
he added. "This is difficult. Another factor is the success of local projects in Australia, where
BTR products are well established, which indicate the potential for rent on markets with a
high enough rental share." Bloom real estate Australia is a real estate company which
provides residential as well as commercial sites and buildings as per their customer’s
requirements (Gholipour et al., 2019). In this report, the issues arisen in the bloom real estate
company will be discussed.
Aim of the project
The aim of this project is to identify what are the issues facing by Bloom real estate,
Australia. As we know that COVID-19 has its impact on each sector globally and it also has
its impact on real estate industry as well. The current issue that is faced by the company is
Asset valuation and dealing with unrealistic sellers. This project will try to develop a strategy
which will help companies like Bloom real estate to mitigate these issues. For this, several
techniques such as analysis of pre-availed solutions will be conducted. Furthermore, a
strategy that contains social media marketing will also be developed.

Methods
Historically, real estate a local phenomenon. For decades constructors and investors were
glad to be able to find, based on their local knowledge, the greatest place, location and
location. It is one of the least 'tradable' items because it is physically inviolable, however both
domestically and internationally it can be purchased and sold.
In the face of an economic crisis, the valuation of the property is unpredictable and volatile.
Many challenging choices in financial reporting on valuations of assets will need to be used
in this financial year. The asset's fair value is based on numerous variables: yields,
prospective rental cash flow, future capital requirements, similar market sales. Special focus
will be needed on the main inputs utilised to establish conclusions on fair value. In the
context of financial reporting, information is used on changes in the methodology of fair
value and input into assessments of fair value. Although there may be a lesser volatility in the
value of quality assets, secondary asset assessments are predicted to be affected in a certain
measure. Due to uncertainty, the market for secondary assets declines, and evaluations
become complicated. This means that the fair value of these assets will be less compared in
this context. Potential declines in property assessments can affect compliance with banking
covenants and complex issues. Certain sellers with very unreal expectations of their homes
may have come across the firm. Whether it is the price or the timeframe they have provided
for the sale of the property, keep it apparent from the first day if it doesn't work well with
their computation. Many sellers compare their homes with the rest in the area and want to sell
as fast as others. The corporation is responsible for making the genuine scenario understood.
Global footprints are being created by multinational producers, distributors, suppliers and
now increasingly service companies, which range from financial to legal. These customers
have been accompanied abroad by major US real estate services organisations, expanding the
sort of services and geographical coverage supplied. The offshore, or transfer to developing
nations of US multinationals, production facilities, back offices and R&D centres has also
provided commercial property in those countries a huge boost. In the international arena,
even residential real estate brokers have followed a growing mobility of their expatriates,
building connections with enterprises all over the globe to supply residential relocation and
access internationally. Professional real estate managers must immediately take action in
order to deal with the current and urgent threat of COVID-19 and establish the foundation to
deal with what can be lasting changes for the industry beyond the crisis. Many will
concentrate cash management to focus on efficiency and to change portfolio decision-making
and capital expenditure. Some players are more urgent to digitise and give a better and more
distinctive lounge and customer experience than before (Poon & Brownlow, 2014). And as
the crisis affects the capacity of commercial leaseholders, many operators will not have to
take just a couple of large portfolio judgments, but would have to make thousands of
decisions in specific scenarios. Most immobilisers were clever when decisions were taken
first, protecting the security and health of all employees, locators and other space users. The
cleverest person will also now consider how the real estate scene can be modified
permanently in the future and adapt their approach. Real estate investments delivered
continuous cash flow in recent years and profits much higher than traditional yield sources,
such as company debt, with a somewhat higher risk. This has altered with the advent of the
virus, however, and real estate players throughout the value chain have been struck hard.
Service providers strive to reduce their staff and customers' health risks. Many developers are
unable to secure permits and fear building delays, halts and potentially reduced return rates.
The strategy's objective is seen less as an opportunity to develop & then defend an important
sustainable competitive benefit in hypercompetitive environments, but as a means for
producing a constantly changing number of small, uncompetitive advantages that maintain
the competitive balance by requiring them to become a global market follower in reactive
strategic fashion. The consensus appears to be which companies in a volatile environment
must aim on their basic real estate competencies as a proper medium of networking systems
to use them to improve learning as well as proper serve their markets in more or less transient
agreements with other enterprises.
In this project, the qualitative research methodology will be used. Along with this, to find
data related to the topic, secondary approach will be utilised to find possible outcomes for the
raised issue. Qualitative research is used to comprehend the world of people. Although
qualitative research has different methodologies, they tend to be flexible and concentrate on
maintaining a rich meaning during data interpretation. Basic theory, ethnography, action
research, phenomenology and storey research are common methodologies. They share certain
commonalities, but stress various goals and perspectives. Quality data, including writings,
photographs, videos and sound, can be used. For example, transcripts for interviews, survey
responses, field notes or natural recordings can be used to conduct research for this project.
The investigation is centred on secondary data collection, which will lead to a deductive
approach to the study. The analysis of current data for a certain issue is reliable by means of a
deductive method. In general, deductive reasoning involves testing the beliefs that already
exist in deductive ways (Ullah et al., 2018). It collects and concludes data that are generalised
in a general way. The approach of deductive research involves several stages in picking an
existing theory, formulating a hypothesis which was based on this theory, collecting
hypothesis data and analysing results.
Conclusion
This project will analyse the impact of Covid-19 crisis on the real estate industry in Australia
and try to identify several factors like asset valuation and dealing with those customers who
are unrealistic. Furthermore, the project will also provide some solutions which can be
implemented to solve these issues.
References

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