PIPA In the News

Fri
15 Nov
2013

Next capital city to boom

Brisbane will be the next Australian capital city to take off, according to a panel of property experts.

Speaking at a recent Smart Property Investment roundtable, Propertyology's Simon Pressley, Destiny Financial Solutions' Margaret Lomas, property lecturer and author Peter Koulizos, Empower Wealth's Ben Kingsley and ProSolution Private Client's Stuart Wemyss all agreed Brisbane would be the best performer over the next two to four years.

Mr Pressley said it would be "Brisbane by a mile". However, Mr Wemyss contended Sydney would remain a top performer.

Thu
07 Nov
2013

ASIC warns agents on SMSF licencing obligations

The corporate regulator has warned the real estate industry on the licensing obligations of agents involved in SMSF property investments.

The Australian Securities and Investment Commission (ASIC) yesterday announced it is working with the Real Estate Institute of Australia (REIA) to ensure real estate agents understand their legal obligations when dealing with SMSFs.

ASIC has written to the REIA, the state and territory real estate institutes and property investment associations outlining its concerns and requesting the real estate bodies pass these on to members.

Wed
30 Oct
2013

PIPA intensifies fight against property spruikers

The Property Investment Professionals of Australia (PIPA) has continued its push for a more professional property investment industry with a string of new measures and initiatives.

The measures include the launch of a new website and new anti-spruiking advertising campaign, as well as a strengthened fee and commissions disclosure policy for its members.

According to PIPA chair Ben Kingsley, the actions form part of the association's ongoing pledge to create a more professional property investment industry.

Wed
30 Oct
2013

DIY investors 'disadvantaged'

Novice property investors should always seek advice to avoid making disastrous financial decisions, industry leaders have urged.

Property investment professionals at the Smart Property Investment/PIPA Roundtable agreed "mum and dad" investors were unlikely to make the best possible choices without advice.

Margaret Lomas of Destiny Financial Solutions said many Australians believe property is a do-it-yourself investment.

Wed
30 Oct
2013

Property investment space still a haven for spruikers

Underhanded practices remain rife in the property investment sector, with little help available to distinguish reputable dealers from spruikers, an industry body believes.

The Property Investment Professionals of Australia (PIPA) has renewed its call for sector-wide regulation following the election of the new government, saying unscrupulous dealings remain one of the industry's biggest challenges.

"Unfortunately, as long as property investment remains unregulated, Australian investors will remain at the mercy of profiteering property spruikers," PIPA chair Ben Kingsley said.

Wed
25 Sep
2013

Upskill property investment knowledge, or beware

The property investment industry in Australia is big business.

Over 1.7 million people claimed exposure to property via their 2011 personal tax returns and the broader industry also includes billions of dollars of commercial property owned by a range of entities such as companies, trusts, managed investment schemes, holdings and so on.

It is safe to say that property is a significant industry and Australians have an appetite for property as an investment. This appetite is being amplified by the strong uptake of SMSFs and the growing interest in borrowing via an SMSF to invest in property, that is, limited recourse borrowing arrangements (LRBAs).

Tue
16 Jul
2013

Government 'can't refuse' property regulation: PIPA

Property Investment Professionals of Australia (PIPA) continues to push for the regulation of advice on property investment, saying that over time there will be "a very strong case the government can't refuse".

PIPA has long argued that the government should legislate for property to be classed as a financial product when the purpose of sale is for investment. Ben Kingsley, chair of PIPA, told SMSF Adviser this would be a positive move, providing "better protection for trustees of SMSFs".

Fri
14 Jun
2013

Ben Kingsley on Switzer TV

According to Property Investment Professionals of Australia, the property market has some of the best investment opportunities in years, but is urging investors to make smart investment decisions. For more, Ben Kingsley joins Broker TV.

Thu
13 Jun
2013

Regulation in property investment 'critical'

Regulation of property investment advice is one solution to protect consumers against "spruikers and unscrupulous operators" in the self-managed super fund (SMSF) sector, according to the Property Investment Professionals of Australia (PIPA).

There is "no doubt" that property spruikers have become more active in encouraging investors to set up an SMSF for the purpose of buying property Ben Kingsley, chair of PIPA, told SMSF Adviser.

Tue
28 May
2013

PIPA upholds anti-spruiker campaign

Property Investment Professionals of Australia (PIPA) has continued the call for caution in light of recent spruiker concerns, urging investors to ensure full due diligence is carried out before signing the dotted line.

PIPA chair, Ben Kingsley, says the opportunity for investment in property is 'incredibly attractive' right now.

 

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