House prices tumble in 50pc of suburbs

Sunday, 28 September 2008

Despite the drop in official interest rates in August Sydney housing prices have fallen and capital growth has experienced a downturn. As a result there are some great opportunities for buyers looking at the middle and upper income suburbs as some owners in these affluent areas have been hit hard due to stock market movements and as a consequence are selling up.

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Andy - Simple thing government can do

| | 2008-10-03 07:51:47

One thing government has been neglecting over the year is supervision and regulation of the intermediary i.e. real estate agent.

The current status is the real estate agency is that false claims and even collusive behaviour has gradually become the industry norm to achieve a sale.

There seems to be significant concern over the financial planning industry of advisors providing inadequate investment advice. Yet barely anything is being mentioned for the misconduct in real estate intermediaries, whose main source of income is commission based.

The fact is financial planning industry is much more properly regulated than the real estate industry.

Real estate agent regularly engages in providing false information, non-disclosure of important information for both buyers and renters.

A quick independent study of buyer satisfaction of real estate agent will spell out the results.

Media has also contributed to the exacerbation of the current situation.

The interest of med...

House prices tumble in 50pc of suburbs

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