[Video] The latest property news with Kevin Turner | 2nd July

In this week’s two minute property investment news video: $20b plan to improve Sydney’s infrastructure and illegal ‘collusive bidding’ is occurring at some auctions.

Sydneysiders can look forward to a big investment in infrastructure.

Just when you thought Sydney’s mega property boom couldn’t get any bigger, or better, a multi-billion dollar project could help confidence, create jobs and best of all, improve some of the city’s dreaded peak-hour traffic.

The New South Wales Government has announced a proposed $20 billion plan to improve infrastructure in Sydney and regional NSW.[sam id=37 codes=’true’]

Works are to involve changes and upgrades to the Sydney Rapid Transit line, a second Harbour rail crossing and an extension of the North West Rail Link through to the CBD and beyond Bankstown.

If it goes ahead, it could be another win for Sydney’s west, as it would make the cheaper suburbs that little bit easier to access.

Also, reports in the Australian Financial Revue indicate an illegal practice called “collusive bidding” is occurring at some auctions. The tactic is said to involve two or more bidders who represent the same buyer creating multiple bids well under the reserve price.

According to the AFR story, this is to give the seller the impression that there is strong interest in the property at this lower price point, so they’ll drop their price reserve expectations. It’s said the strategy is particularly rife in Victoria where bidders don’t have to be registered in order to bid.


Subscribe & don’t miss a single episode of Michael Yardney’s podcast

Hear Michael & a select panel of guest experts discuss property investment, success & money related topics. Subscribe now, whether you're on an Apple or Android handset.

Need help listening to Michael Yardney’s podcast from your phone or tablet?

We have created easy to follow instructions for you whether you're on iPhone / iPad or an Android device.


Prefer to subscribe via email?

Join Michael Yardney's inner circle of daily subscribers and get into the head of Australia's best property investment advisor and a wide team of leading property researchers and commentators.

Kevin Turner


Kevin brings together leading authorities on the property market in his weekly Real Estate Talk Podcast. Visit www.RealEstateTalk.com.au

'[Video] The latest property news with Kevin Turner | 2nd July' have no comments

Be the first to comment this post!

Would you like to share your thoughts?

Your email address will not be published.


Copyright © Michael Yardney’s Property Investment Update Important Information
Content Marketing by GridConcepts