Our CEO Paul Thomas Reflects on 2024 and His Outlook for 2025

2024 has been an outstanding year for Latitude 37, driven by a steadfast commitment to excellence. From delivering award-winning custom homes to extremely happy clients, to the completion of our bespoke Glen Shian development, this year underscored our ability to deliver exceptionally crafted residences that embody the needs of each client.

As December draws to a close, we sat down with Latitude 37’s CEO Paul Thomas to share his reflections on 2024 and the market trends and opportunities that will shape our approach in 2025.

"Throughout 2024, we have solidified our position as the premier luxury custom home builder in Eastern Melbourne, Bayside and the Mornington Peninsula. We’ve achieved this by delivering exceptional bespoke homes that exceed expectations, guided by our unwavering commitment to quality and client satisfaction," said Paul.

When asked about landmark projects that defined the year, Paul noted that each custom residence is a unique and significant reflection of Latitude 37’s mission to deliver “Happy Clients, Great Homes.”

“I can’t pick any one project to highlight above another as each and every home we have delivered this year has been an outstanding reflection of our dedication to quality craftsmanship, attention to detail, and the trust our clients place in us to bring their vision to life.”

While the residential property market in Victoria has experienced some volatility over the past 12 months, Latitude 37’s disciplined Business Governance principles, robust Financial Management processes and careful Risk Management program have protected both the business and our clients from unpredictable market conditions.

“2024 has demonstrated that our approach to safeguarding against market fluctuations ensures stability for our clients. When a client comes to Latitude 37, they can be assured that our decisions are disciplined and prudent, providing peace of mind with fixed-price contracts that safeguard their project from rising costs and unexpected delays.”

Looking ahead to 2025, Paul anticipates a surge in demand for luxury custom home builds as the market continues to “come alive.”

“Over the last few months, we’ve seen strong levels of enquiry and clients who had paused their projects due to market conditions are now returning to start building.

“This pent-up demand will impact all builders in 2025, and we are encouraging our clients not to delay securing their place in our workflow and build program.”

2025 will mark Latitude 37’s 20th year of operation, celebrating two decades of delivering bespoke dream homes across Eastern Melbourne, Bayside and the Mornington Peninsula. Reflecting on this milestone, Paul is filled with pride and anticipation.

“The Latitude 37 journey over the past 20 years has been one of constant refinement. In 2025, we will continue to focus closely on the details, ensuring that our clients receive the premium service they expect when engaging us to design and build their homes.

“Our strategy and approach will not change; rather, we will fine-tune the small things to provide the highest level of quality and client satisfaction.”

As Latitude 37 looks to 2025 and beyond, the focus remains on delivering success through the dedication and passion of our exceptional team, whose expertise and commitment continue to set the benchmark for bespoke home building.

“The team at Latitude 37 loves what we do, how we do it and who we do it for. As CEO, I am immensely proud of the amazing people that I work with and the results that they achieve.

We remain passionate about what we do and are excited about the new clients we will welcome, as well as the new homes we will create, in 2025 and beyond,” concluded Paul.

If you’re interested in embarking on your own custom home build in the new year, get in touch with our team here.