Australian Property News

Oprah visit could benefit property market

Posted on Wednesday, October 06 2010 at 1:02 PM

Oprah Winfrey’s visit to Australia is likely to spark considerable international interest in the domestic property market, according to RE/MAX International chairman and co-founder Dave Liniger.

Along with 300 of her fans, Oprah will visit the country in December to film at least two episodes of her talk show.

“When the episodes are aired, it’s most likely we’ll begin to see increased interest among American property investors in the Australian property market – both residential and commercial,” says Liniger, adding that the visit will improve America’s overall awareness of Australia.

Liniger points out that after the global financial crisis the property market in the United States was 10 times worse than what Australia has ever seen.

Especially in comparison to the US, he says over the past three years Australia as a whole has been one of the strongest and safest financial hubs anywhere in the world.

It will take at least three years for the US property market to alter from its current position, notes Liniger, and while Australia hasn’t suffered to the extent that the US has, its property market is currently experiencing an adjustment period.

Due to the stability of Australia’s property market, Liniger says there are a great number of local opportunities that would interest American investors.

Liniger also believes that now could be the perfect time for Australians to invest in distressed property markets overseas, such as in the US.

For an insight into the American property market, don’t miss part one of the special report in Australian Property Investor magazine, on sale now.