Biggest mistakes first-time property investors make

Specialists warned that rising investor lending, up 29.5 per cent annually to $11.6 billion in September, did not guarantee good outcomes. PIPA chair Nicola McDougall said newcomers often bought in places they did not understand or chose a dwelling they liked personally instead of one suited to local tenant demand, and cautioned against having no cash buffer. Michael Pell of Propell Property said finance should be settled first and favoured land content for growth.