PIPA In the News

Wed
31 Jul
2019

The Property Investment Professionals of Australia is warning consumers about the risks of property investment spruikers as interest rates hit record lows.

PIPA Chairman Peter Koulizos said that a confluence of factors was likely to reignite spruiker activity in property markets in the months ahead, which had the potential to financially devastate the unwary.

“Interest rates are rock bottom, lending is loosening up, plus first home buyers have been given a helping hand from the government deposit guarantee,” he said.

“While all of these factors are much needed good news for the property sector generally, they also create the ideal conditions for unscrupulous operators to potentially entrap novice buyers and investors.”

Wed
31 Jul
2019

Since first being evacuated in December 2018, the Opal Tower in Sydney Olympic Park continues to experience the effects of the aftermath, with the Australian Financial Review reporting that the building’s insurance premium has risen to $2m. Coupled with the most recent turn of events at Mascot Towers – which remains uninhabitable due to structural risks – buyers and investors have started to show first signs of veering away from the sky-high, with others looking at every avenue in which to protect themselves.

As Your Investment Property delves into the topic with Sharon Fox-Slater, managing director of EBM RentCover, we discover that whilst there are certain safety barriers in place to protect the investor for a limited time, there is still a lot of ground that needs to be covered in the wake of recently developed concerns.

Wed
24 Jul
2019

The Property Investment Professionals of Australia is warning consumers about the risks of property investment spruikers as interest rates hit record lows.

PIPA Chairman Peter Koulizos said that a confluence of factors was likely to reignite spruiker activity in property markets in the months ahead, which had the potential to financially devastate the unwary.

“Interest rates are rock bottom, lending is loosening up, plus first home buyers have been given a helping hand from the government deposit guarantee,” he said.

“While all of these factors are much needed good news for the property sector generally, they also create the ideal conditions for unscrupulous operators to potentially entrap novice buyers and investors.”

Wed
17 Jul
2019

The Property Investment Professionals of Australia (PIPA) has warned consumers about the risks of property investment spruikers amidst interest rates hitting record lows.

A confluence of factors was likely to reignite spruiker activity in property markets in the months ahead, with a potential to financially devastate the unwary, according to PIPA Chairman Peter Koulizos.

“Interest rates are rock bottom, lending is loosening up, plus first-time home buyers have been giving a helping hand from the government deposit guarantee. While all of these factors are much-needed good news for the property sector generally, they also create the ideal conditions for unscrupulous operators to potentially entrap novice buyers and investors,” Koulizos said.

Tue
16 Jul
2019

Consumers should be aware of a rise in property investment spruikers as interest rates hit record lows, according to the Property Investment Professionals of Australia (PIPA).

The not-for-profit association’s chairman, Peter Koulizos, warned consumers of the risks, adding that a confluence of factors was likely to reignite spruiker activity in property markets in the months ahead.

“[This has] the potential to financially devastate the unwary,” he said.

“Interest rates are rock bottom, lending is loosening up, plus first home buyers have been given a helping hand from the government deposit guarantee.

Mon
15 Jul
2019

The worst of the national property downturn seems to be coming to an end, with Melbourne and Sydney prices recording upticks in June, although dark clouds still hang on the horizon.

But in such an environment where interest rates are hitting rock-bottom, lending is loosening up, and first home buyers are getting a boost, we’re likely to see a spike in dodgy sellers willing to pull the wool over buyers’ eyes to make a sale, said Property Investment Professionals of Australia (PIPA) chairman Peter Koulizos.

“While all of these factors are much-needed good news for the property sector generally, they also create the ideal conditions for unscrupulous operators to potentially entrap novice buyers and investors,” he warned.

Wed
26 Jun
2019

You’re working harder but wages aren’t budging; the kids take up all your time; and the mortgage is eating not only your paypacket but also your diminishing savings.

Most Aussies aren’t aware that there are three simple solutions that could free up $18,000 to 38,000 a year, without any more sweat or debt, according to finance broker and property specialist Busy Martin.

Here are Martin’s three ways to save thousands a year and take a load off your shoulders:

Mon
24 Jun
2019

The industry reacts to the election results

The mortgage broking industry collectively breathed a sigh of relief last month when the ‘surprise’ results of the federal election were announced.

While all polls had suggested a clear win for Labor, the right voters turned out on the day to secure another term in government for the Liberals.

This means brokers are not facing the removal of trail next year but also that other policies criticised for being detrimental to the housing market will not come into play.

The hard work by the broking industry will not stop there, however. While the Liberal proposition was certainly better for broking businesses, there is still going to be a consultation in three years’ time to look at the impact of removing commissions.

Tue
18 Jun
2019

A new report projects what major shifts in the economy need to take place to ensure growth, and the make-up of the property market factors significantly in these changes.

The Australian National Outlook 2019 report, from a collaboration between the CSIRO and NAB, has identified that Australia’s economy is set towards a “slow decline” by 2060 if no action is taken.

In the event of no action, GDP growth is predicted at 2.1 per cent annually, with no real change to the property types seen in capital cities.

However, the report projects that by addressing some economic fundamentals, GDP growth could be upwards of 2.75 per cent, and average density of major cities could increase by 60 to 88 per cent.

Mon
17 Jun
2019

An issue with apartment towers in Sydney’s inner south has seen its residents evacuated and has highlighted the need for investors to keep calm in stressful situations and avoiding a panic sale.

Mascot Towers, a series of apartment buildings in Sydney’s Mascot, have seen tenants evacuated under speculation the buildings may be uninhabitable.

Landlords could be faced with some high fees for displaced tenants, according to advice given by the Fair Trading NSW.

The advice, provided by the department in a statement, reminded landlords that if tenants need to temporarily move out due to the property being wholly or partially uninhabitable, rent can be waived or reduced, and can give tenants grounds to issue a termination notice.