The chief executive officer (CEO) of housing valuation specialist Residex has warned Australian property investors to study the data on property prices carefully before deciding what to put their money into.
John Edwards encouraged investors to focus on units rather than houses in the coming months as this is where he believes more value will be found.
Commenting on the various sets of data that have recently been released regarding the Sydney market, Mr Edwards pointed out it is important to examine the data for units and houses separately.
"Housing markets and unit markets grow at different rates, during different periods of time, and I cannot stress enough the importance of reviewing these markets separately," he explained.
Mr Edwards added that he considers the best purchase in the current economic climate to be older-style units.
Residex was founded in 1990 and offers independent research to several organisations, including the Federal Treasury and the Reserve Bank.
