(PRWEB) December 12, 2013
As record-low interest rates have stimulated a boom in Australian property prices, latest figures reveal that members of one sector, first-home buyers, are in danger of missing out on their chance for home ownership as property investors take the lead. To help ensure that no group misses out on the property boom, real estate authority, Rick Otton is offering a no-charge download Power Property Profits Pack.
“Figures released for September 2013 have revealed that just one in eight borrowers were first-home buyers” said Mr Otton. “Alarmingly, this is the lowest figure for this sector in over twenty years.”
Low Interest Rates Are Not Enough
“Despite the fact that interest rates are at an all time low, aspiring home owners still face hurdles to buying” he continued. “Many do not have the hefty deposit required to apply for a bank loan, and, as prices rise, so too does the deposit amount needed. For many, it has become an unachievable goal, especially in a boom market.”
Mr Otton has urged Australian real estate investors, whether they are buying their own home, or growing their current portfolio, to learn how to think creatively by implementing strategies that don’t tie them to home loans with unpredictable repayments.
A second driver of the property boom, Mr Otton said, was foreign investment, particularly from mainland China. The impact of these investors was most obvious in the Melbourne and Sydney markets.
“The Chinese Government has put measure in place to cool an over-heated local property market - limiting the number of properties an individual can own, and, in some cases, putting an age restriction on property purchasers” explained Mr Otton.
“In China couples are divorcing to allow them to buy a property in each of their names, but that only gives them two. In some provinces there is a minimum age of 20 years for property ownership, which has shut the door on them putting properties in their child’s name” he continued.
“So they are looking offshore - and Australia is a very attractive option for them.”
Mr Otton’s strategies for buying and selling real estate, without the need for a large deposit, or negotiating the bank home loan application process, are explained further in his Power Property Profits Pack, a no charge download at http://www.CreativeRealEstate.com.au/freepack.
About Rick Otton
For over 23 years property millionaire Rick Otton has built an impressive real estate portfolio using innovative strategies that he has developed – strategies in which transactions are made without the need for traditional bank-type loans. He constantly refines his techniques as he buys and sells properties through his We Buy Houses business which operates in Australia, New Zealand and the UK.
A gifted speaker and educator, Mr Otton conducts regular one-day free seminars across Australia, which build on the the concepts he shares in his 2012 book ‘How To Buy A House For A Dollar’, voted by Money Magazine and Dymocks Book stores as one of the Top 10 Most Popular Finance Titles for 2013.
He regularly records and publishes iTunes podcasts via his channel Creative Real Estate.
His innovative low-risk, high-reward approach to Australian real estate investing has been featured in a variety of television programs and magazines, including Today Tonight, Hot Property and Australian Property Investor.
Details about his Ready Set Boom one day events planned for 2014 can be found at http://creativerealestate.com.au/readysetboom/ or phone, in Australia, 1300 888 450.