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Property prices will not drop as much in Australia as they have in the UK or US but savvy local investors can still capitalise on bargains according to LaSalle Investment Management.
“We are not expecting a drop in prices to be as severe in Australia or as widespread compared with the US and UK,” LaSalle regional investment strategist David Edwards said yesterday.
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“That does not mean there won’t be opportunities. But caution is the name of the game,” he said according to The Australian Financial Review today.
Mr Edwards said Australia’s markets had less to fall because the Reserve Bank’s tight approach to monetary policy had prevented the markets from overheating.
Australia’s industrial sector will present strong medium-term opportunities coming up, according to LaSalle, and wealthy individuals will be most likely to return to market first.
