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Australian market demonstrates growth

Article Date : Thursday, August 16, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The Australian real estate market is showing huge growth potential, with demand for commercial property driving investment.

This is the view of the GPT group, which believes the commercial property sector in Australia is strong enough to withstand the shockwaves resonating from the US residential property market, which are being felt across the globe.

Chief executive Nic Lyons told ABC Online the strength of the Australian economy is causing demand for commercial property to rise, which is resulting in falling vacancy rates and rising rental yields.

"The obviously recent volatility in credit markets is starting to influence investors' thinking, but hasn't yet impacted on demand for good quality real estate investment," he said.

Meanwhile Australian prime minister John Howard has expressed confidence that the country's strong economy will help it shake off any negative impacts of the US sub prime mortgage market.

"My assessment is the Australian economy remains very strong and we should be reassured about that," he told journalists.
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