Property commentators and conspiracies: Michael Davoren
GUEST OBSERVATION
David Airey, the Real Estate Institute of Western Australia (REIWA) president, is a very credible property commentator, and a person well-qualified to comment, having up-to-date property market data, analytics and substantiated facts immediately on hand.
Real estate industry representatives are far more aware of real-time market activity than some property commentators who are not actually involved in the industry and therefore prone to misinterpreting data.
Terry Ryder has taken misinterpretation to a whole other level when he questions ‘the words of real estate agents and their representative bodies’.
He would have you think that those working in the industry are all part of some Machiavellian plot.
In his attack on a REIWA press release, Mr Ryder is denying that the Perth market place is slow. Is he trying to say that its market, like those in Mackay and Moranbah, are unaffected by mining downturns?
David Airey addresses this in a response to Mr Ryder, referring to a cyclical WA property market that is very closely linked to the fortunes of the mining and resources sector.
Mr Airey also affirms REIWA’s obligation to advise the public about changing market conditions and not to suggest that people shouldn’t buy or invest in the Perth market.
Engaging in the market – any market - requires good research, good timing, realistic expectations and a long-term outlook. In some instances, the real estate market can change rapidly and dramatically.
The public needs market commentary such as REIWA’s, which is, as David Airey says, ‘telling it like it is’.
If Mr Ryder has any credible data that proves the WA statistics coming out of the Institute are incorrect, then he should use them.
Terry Ryder has finally written an article that totally discredits himself as a property commentator, and one in which he’s sounding alarmingly more like a conspiracy theorist.
MICHAEL DAVOREN is managing director of RE/MAX Australia and RE/MAX New Zealand.
