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Article: AUSTRALIAN PROPERTY MARKET FORECAST TO REBOUND.
- Article from:
- AsiaPulse News
- Article date:
- June 16, 2005
CopyrightCOPYRIGHT 2005 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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PERTH, June 16 Asia Pulse - The fizz may have come out of the property market but one of Australia's long established land developers is confident the champagne will soon be flowing again.
Peet & Co Ltd (ASX:PPC) managing director Warwick Hemsley said the market was about 18 months into a slowdown, depending on the state.
"It won't be long before people are saying property is the way to go," Mr Hemsley said.
UBS analysts hold similar views, earlier this week forecasting a more balanced market within nine months.
However, both UBS and Mr Hemsley remained cautious on the east coast apartment market, which has been volatile in the past few ...