Australand Property Group and Macquarie Office Trust are good investment possibilities, according to John Freedman, real estate analyst at UBS. They are part of a larger trend among Australia's REITs, which have largely completed property write-downs and are positioned for growth. "We've seen the bottom of asset valuations and the end of write-downs," he says. "We've seen strong results for residential, particularly those in land or affordable housing. House and land packages have been strong in terms of values."