Australians Out Buying Investment Real Estate
Over recent month there have been many gloomy reports on the state of the property market in Australia. Managing director of Australia’s Housing Industry Association (HIA), Shane Goodwin, recently said: “New home building has collapsed. We’re on the brink of recession … the worst conditions in decades.”
However, a leading Australian expert believes that the property market in the country remains good in many areas. Keep reading to learn more about why Terry Ryder believes the housing market in Australia is ‘talking itself into a recession’.
Government should highlight property good news stories
Terry Ryder, a leading Australian property expert, believes that negative comments from bodies such as the HIA are only succeeding in having an adverse effect on the country’s property market.
He told Property Observer: “We have an affordability crisis, a housing shortage crisis, a red tape crisis, a taxation crisis – the HIA has talked down its own industry day after day. Even positive data has been twisted into a tale of pessimism.
“Australians are out there buying homes and investment properties again – and markets are rising. But they’re not building new homes, they’re buying existing ones. Why would anyone want to build when the HIA keeps telling them the industry is stuffed and their products are too expensive?”
Mr Ryder believes there are plenty of great reasons to buy property in Australia and that official bodies and the government should share good news stories rather than ‘doom and gloom’.
Mr Ryder added: “They [the HIA] should be selling the benefits of building new homes. They should be highlighting the areas in Australia where the economy is strong and business is good.”
The expert highlights locations such as New South Wales’ beautiful Hunter Valley, Ballarat in Victoria and Gladstone and Toowomba in Queensland.
Mr Ryder concluded: “There are good news stories out there, if the industry only had the wit to tell them.”
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