We’ve been around since 1958 and we are very open about what we do and the way we operate, so it really frustrates us when dodgy operators, self-proclaimed investment gurus and fly-by-night industry experts come out with outrageous claims or dubious service offerings, all the while obscuring their true intentions behind a façade of honesty.
You might have noticed there has been a bit of talk in the media lately about the murky waters surrounding unauthorised buyer’s agents. Now, in theory, and under the right circumstances, buyer’s agents can provide a useful service. Basically they charge a fee to search for properties, assess their suitability and negotiate purchases on behalf of buyers. They are reasonably popular with some buyers in other cities who don’t have the time to do their own research when purchasing properties. And as long as they work exclusively for their clients and act in their best interests, there’s really not an issue. But, there seems to be a growing number of buyer’s agents who are offering their services to unsuspecting property investors for free.
A few days ago RP Data released their latest Quarterly Review of The Australian Property Market and Economy. For those of you that haven’t read the report, it revealed some key factors that point to the strength of the Australian property market and the important role it plays in wealth creation and to the Australian economy in general.
According to the report, the total value of residential property in Australia is around $5.5 trillion. To put that in perspective, Australia’s Gross Domestic Product over the 12 months leading up to March 2014 was only $1.56 trillion, less than a third of the value. Residential property was also 3 times as valuable as Australia’s combined $1.8 trillion investment in superannuation and significantly more than Australia’s $1.6 trillion worth of listed equities.
Have you ever tried to find a place to park your car during a weekday at the National Library or Questacon? It’s next to impossible. Judging by how full the car parks are, you’d think that these venues would be packed full of people. They’re not.
Take a closer look at the car park and you’ll find that nearly all the licence plates are from the ACT. Of course, local Canberrans have every right to enjoy the attractions in the parliamentary triangle, but in the majority of cases these people aren’t stopping by to check out some delightful watercolours, stylish Incan carvings or breathtaking displays of science in action – they are just leaving their cars there while they go off to work.
Everyone dreams of owning a high quality home, something that really stands out from the crowd and makes their friends just a little be jealous… even little kids.
Of course for some reason, lenders just aren’t prepared to offer home loans to children. The systemic ageism against Australians under the age of 10 that is plaguing the home finance industry means that many children will have to wait years before they have an opportunity to enter the property market.