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It's ok, you can look now: Aussies finally coming to terms with GFC property impact

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Australian Broker | 26 Apr 2013, 05:06 AM Agree 0
Australia's economy has fared far better than many of our trading partners over the past 12 months, but that reality is only just starting to sink in for property investors
  • Jeff | 26 Apr 2013, 10:15 AM Agree 0
    What is missed, is that many smaller mum and dad investors who want to buy; are hit with valuers undervaluing their existing homes - so killing off the equity required for purchases. Given there is a penalty inflicted by Banks on valuers for overvaluing, but no penalty for undervaluing, we end up with property being in a state of limbo (as valuers come in under what they really think, to protect their PI position). Cant see much changing in the near future, unless there is more legislation introduced to look at the accuracy of valuations/valuers - both ways. At the moment everyone in finance talks about the undervaluation issue, but at official levels/circles there is a deafening silence.
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