Many of those involved in the Australian property industry are pessimistic, but for no good reason, one commentator has suggested.
Terry Ryder, founder of hotspotting.com.au, wrote in a piece for the Australian newspaper that organisations such as the Housing Industry Association, the Master Builders Association and the Urban Taskforce constantly produce negative comment.
"Even positive data from the Australian Bureau of Statistics attracts negative analysis," he claimed.
Mr Ryder spoke to Queensland developer Shane Leadbetter, who reminded him "Australia is in a good position economically" and that it is much better off than many other countries in the world.
The developer is "putting his money where his mouth is", Mr Ryder wrote, by investing $70 million (£43.2 million) into the Sea Pearl residential and retail development on the Mooloolaba Esplanade.
Back in December, Mr Ryder wrote in a piece in the Australian newspaper that many people wrongly believe a rise in interest rates will suppress house prices, when it is really consumer confidence which has the biggest effect on these.
Posted by Ravin Chatlani
