Whilst many Australians blame foreign investors for the rising property prices in Australia, this article attempts to bust what is effectively being considered a myth, and it goes onto imply, in my opinion, that Australians themselves need to look in the mirror. Maybe in fact, there are many people jumping on the band wagon of investment property because interest rates are so low. The problem is two fold, firstly, these people who do not seek qualified professional advice and simply buy from a property marketing company (spruiker) or Real Estate Agent who represents the vendor, are planning to fail. A buyer needs someone who represents the buyer, so why buy from someone who represents the seller. If anyone can provide a rational reason to buy from someone representing the seller, particularly if they want to buy a property that suits their individual circumstances, rather than what is in a window, I would be interested to hear from them. Secondly, many people fail to adequately prepare for the future which explains why many would be investors are ignoring interest rate risk. I envisage that as rates rise, people will have to sell because they did not buy well and have not planned well. If you know anyone who wants to reduce risk, and buy investment property that allows them to weather the storm when rates rise, contact us on 1300 760 901 or email [email protected] or visit australianpropertyadvisorygroup.au/
Posted on: Fri, 28 Nov 2014 05:01:42 +0000
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