Categorized | International

Toby Phelps Becomes Barclay’s Latest Real Estate Chief for Australia

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Toby Phelps was recently appointed the position of managing director of real estate for Australia and New Zealand. Barclays hopes that Phelps will play a significant role in providing a correction to Australia’s real estate market, where prices have been a bit elevated over the last ten years.

Phelps will leave his previous position at Greenoak Real Estate to come to Barclays Capital. At Greenoak, he was responsible for advising clients on real estate investing in London, Tokyo, and New York. He will now take his talents to Barclays, and focus strictly on the real estate market of Australia.

In Australia, Phelps will play a major role in overseeing a market that many believe needs to be under greater control. With various funds in the country having more than doubled in price over the past few years, many would like to see them fall back to stable levels. Some fear that if the prices continue to rise, it may cause a bubble in danger of bursting in Australia’s real estate market. Experts, however, believe that there is no worry of a real estate bubble due to low unemployment rates and minimal subprime debt.

Both Barclays Capital and Phelps have issued statements that indicate their full intention to maintain a strong Australian housing market. Their statements indicate plans to provide excellent service to investors and homebuyers across the country through strategic financial and risk-management advising, particularly with respect the potential real estate opportunities that currently exist, and those that may arise in the near future.

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About Nancy Raven

Nancy is the main writer for the International section of the website. Sometimes she also helps Drew out on the Finance/Mortgage section as well.

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