Is it a worry to pick up this morning’s Sunday Age and find a 28 page advertising supplement extolling the virtues of alleged property investment “opportunities” covering every state of Australia? I mean, the picture on the front has got a lovely looking couple playing golf in front of what is a nice looking unit complex… all they need is a lovely BMW in the picture as well… (tongue in cheek of course)
What’s your take on it?
R
It seems that the whole of Australia has gone property investment mad. It’s the new buzz thing at the moment.
Unfortunately, this creates a perfect environment for all the sharks out there.
Makes you wonder – if every man and his dog are buying investment properties, is the market running too hot?
I looked at a number of properties this weekend. One of them was a townhouse in a strata complex. My research showed that another townhouse in the complex sold for $40,000 less than what the owner was asking. This was only 6 months ago. And the property for sale was completely unrenovated! The agent (not surprisingly) claimed that it was a very fair price, avoided the plain fact of the recent sales history and was rather condescending towards me for suggesting that the property was overpriced!
go figure.
Cheers
M
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