"They are already starting to shift their mind set and offer product which traditionally was found only in inner-city locations," said Mr Rivera, Colliers International residential research director.
Those developments which will do well in 2009 must be situated in regions which satisfy PIE – Population growth, Infrastructure and Employment.
"These locations which maximise surrounding amenity such as shopping centres will offer more options for buyers from both a living and financial perspective as well as promote further urbanism in areas lacking destination appeal."
"Developers must look toward developing only key sites which offer a mix of product into the market to maximise the site's yield," he said.
"Developments in outer regions no longer need to be the standard house and land package," he said.
In his Australian Property Overview Mr Rivera says those regions experiencing little to no population growth will ultimately feel the pain first.
"Population growth is generally the best way to sum up an area for both employment opportunities and planned infrastructure," he said.
"Whilst in boom times most properties experienced strong capital growth – now in the current conditions – only properties which are well positioned and that satisfy the greatest number of PIE fundamentals will continue to appreciate," he said.
"Areas in particular focus, are those situated within close proximity to employment nodes."
Note: Click here for the full Australian property market overview report.
