Why you should tread cautiously if looking to buy property

If you’re in the market to buy some property, you want to be sure you’re not getting ripped off.

With increasing demand and tighter supply becoming a growing concern, treading cautiously is the best thing you can do.

It has been reported that most of the demand is coming from investors, SMSF trustees and Chinese investors.

Robert Gottliebsen from Business Spectator has written a great online article titled ‘Beware the mother of all housing booms.’ He takes a no-jargon look at the following issues and their consequences:

  •  Banks offering cut mortgage rates thanks to Reserve Bank Governor Glenn Stevens
  • Taxpayers  likely to subsidise the boom via a massive increase in the use of negative gearing via both personal and superannuation tax breaks
  • The possibility of damaging the economy and consequently the need of the Reserve Bank to take responsibility for pulling the price boom trigger

I encourage you to read the full article here.

If you are currently looking to invest in property and you are concerned about your individual situation please contact me at  ourteam@azuregroup.com.au.

DISCLAIMER/WARNING – GENERAL ADVICE ONLY

The information provided in this article is General Information only, so does NOT take into account your objectives, financial situation and needs.

Before acting on any information contained in this website you should consider the appropriateness of the advice having regard to your objectives, financial situation and needs.

 

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About Author

Azure Group
Azure Group

Azure Group is the leading Chartered Accounting, Business Advisory and Strategic Advisory firm supporting the growth & success of fast growing entrepreneurial businesses.

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