At last we are seeing some reports in the media other than the "doom and gloom" that has prevailed for the past few months. Sure there is global financial crisis and companies are suffering so jobs will suffer but don't let that blind you to the good news starting to appear.

Australia has a strong economy and according to the IMD World Competitiveness Yearbook we are the third most resilient in the world, behind only Qatar and Norway. For countries with populations greater than 20 million, Australia is ranked first in 2009. Is that something we should be postive about?

Figures released Wednesday June 3 show that Australia is NOT in recession (as defined by 2 consecutive quarters of negative growth). Our economy grew by 0.4% last quarter.

In the USA (Australia is far, far better off than the US) a new "bull market" officially started this week. While there are many indicators that define a new bull market, one most Wall St investors agree on is when the S&P 500 Index crosses above its 200 day moving average. Also this week in the US the home sales and new car sales figures were positive surprising most people.

On May 29the Nine MSN Money had an article titled "Property values surge in 2009". Saying "Property prices surged in the first part of 2009, erasing last year's losses and bucking the global trend". According to the RP Data/Rismark Australian Home Value Index, which covers all dwelling types, prices rose by 2.8 per cent in the first four months of 2009, with every mainland capital city except Perth registering gains.

Commsec's economist Craig James added that while the rise in property values is welcome, it is not necessarily a surprise as demand continues to outstrip supply. "Australia has been called the 'winder from down under' because our home prices are not falling at 20 per cent annual rates like in the US and UK", he said.

"However the situation is far from remarkable". Craig said "Population is rising at the fastest rate in 40 years, interest rates are super-low and we have a very tight rental market. It is simple demand and supply - demand is outstripping the supply of homes, putting upward pressure on prices">

On Tuesady June 2nd the Gold Coast Bulletin had a headline "Coast Sales Third Best".

The article said "the Gold Coast property market has recorded strong results in the March quarter, helping southeast Queensland secure the top five best housing sales regions in Australia, according to the latest statistics, RP Data released figures yesterday showing the Gold Coast ranked third, behind Brisbane and Moreton Bay, for the most sales in Australia in the March quarter". They also quoted economists saying that the housing market will be one fo the forces driving the recovery.

It will take time for us to recover to what were we now realise as the "good old times" but I believe the signs are already there and we should all have a positive mindset to be ready for the opportunites that are now becoming available.

Ofrten when I talk to people about the journey Marion and I have been on over the past 10 years, from 0 to 13 properties, they say "yes but you were lucky, you bought at the right time". They probably would not have seen it as the "right time" then!

I believ those who buy in the right areas now will also, in a few years, have friends saying "yes but you were lucky, you bought at the right time". Is it the right timw for you?

By Nick Lockhart.