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.

This article is intended to provide general information only, and is not to be regarded as legal or financial advice. The content is based on current facts, circumstances, and assumptions, and its accuracy may be affected by changes in laws, regulations, or market conditions.  Accordingly, neither Azure Group Pty Ltd nor any member or employee of Azure Group or associated entities, undertakes responsibility arising in any way whatsoever to any persons in respect of this alert or any error or omissions herein, arising through negligence or otherwise howsoever caused. Readers are advised to consult with qualified professionals for advice specific to their situation before taking any action.