Property investors warned about 'no go zones'

Thursday 10 June 2010

Article by Mozo

Australian investors must be aware of hidden factors that can damage the future value of a property, analyst Terry Ryder has said.

Mr Ryder has just issued his latest annual No Go Zones report which names ten places Australian property investors should avoid.

Among them is Sutherland Shire in New South Wales, the home of Reserve Bank governor Glenn Stevens, as well as the backpacker beach haven Byron Bay.

The decision to include places on the list was based on various concerns including overheated prices, volatility, oversupply and lack of affordability. Wider problems like poor transport links and noise and air pollution were also taken into account.

"Investors need to be vigilant because the detrimental features which can harm property investment strategy are not always readily apparent – particularly in these days when investors are increasingly buying property in distant locations via the internet," Mr Ryder said.

Such news may interest Aussies looking to compare home loans in search of the best deals. Earlier this month the New South Wales government announced plans to introduce Australia’s first zero per cent stamp duty as a means of boosting housing supply and housing construction rates across the state.

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