In this week’s 2 minute property investment news video we discuss Australia’s increasing property values plus lot’s more
More than 250 locations around Australia are set to double in price within the next 10 years according to RP Data, which has released its Autumn Investors Guide and predicted the suburbs most likely to grow in value.
The method they used was based on a compounding growth calculation and also if the suburb recorded an annual increase of at least 7.2 per cent.
Victoria has 68 suburbs, while New South Wales has 65. Queensland 41 and Western Australia has 40. So – a total of 263 locations set to double in price is great news for property investors and proves there is still some great capital gain potential out there.
Meanwhile, investment spruikers in Self Managed Super Funds have been put on notice by the Australian Securities and Investment Commission which has released its first self managed super fund task-force report wherein it criticised poor advice from some spruikers and noted a rise in targeted advertisements.
ASIC commissioner Peter Kell says they’ll take action against anyone who sells unlicensed self managed super fund advice. There are also reports some financial planners don’t have the required education or skills to actually provide this specialist advice… so if you are thinking about getting advice, you should make sure you are seeing a qualified person.
Landlords will soon need to make their properties a bit safer in Tasmania. Landlords there will now be forced to install and maintain smoke alarms. All rented properties will need to have either a battery powered or mains powered alarm system installed and maintained and from May 2016, alarms will need to be 10-year non removable ones.
Most house fires cause serious damage and some even tragically, a loss of life because there isn’t a smoke alarm inside the property. In my view this is a good move by the Tasmanian government that will make things safer for tenants and also act as a good insurance for investors.