Australian property market holds 'tremendous opportunity' for investors

An expert has highlighted the 'tremendous opportunity' that exists for those looking to buy property in Australia. Writing in an article for The Australian, Terry Ryder, founder of hotspotting.com.au, claims that some analysts have been far too pessimistic in their outlook for the Australian real estate market. He argues that there will be many specific property hotspots around the country where investors can still stand to make good gains. "I see next year as a time of tremendous opportunity for developers and investors who have the sense to look past the inexpert generalisations and see the potential emerging in specific hotspots around Australia," he writes. For example, Mr Ryder says that markets in Adelaide and key regional centres of South Australia will receive impetus from infrastructure developments and resources projects next year. Similarly, "gargantuan" construction projects in Western Australia will pour wealth into the state capital Perth and regional centres such as Karratha, Port Hedland, Broome, Geraldton, Bunbury and Albany, he advises. It follows recent figures from the Real Estate Buyers Association of Australia which showed that foreign investors are becoming increasingly active in buying up real estate in the country.