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Home loans made clear

ACT real eastate slowing down ?

By gabrukhan 20 March 2008 22

Just returning from a property auctions evening where only about a fifth were sold, the rest passed in, with quite a few not even attracting a single bid.  A very stark contrast to one held just last month when everything on offer was lapped up after very brisk bidding.

Is this just a minor pre-easter hiccup or is the ACT property market finally slowing down ?  Maybe this has a ray of hope for first home buyers.

What’s Your opinion?

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ACT real eastate slowing down ?
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jemmy 8:49 pm 23 Mar 08

No, that was my point. I guess I didn’t express it properly. A licence holder can be held to be giving advice in any context, paid or unpaid, talking on the bus and overheard by a third-party, anywhere. It’s incredibly onerous, I guess because it was the only way ASIC could actually prosecute the rogues back in the bad old days. The point is that it is up to you to prove you weren’t rather than them to prove you were, which you do by ticking off a number of boxes on a checklist, which you cannot do if you don’t know the audience.

In reality, it’s almost impossible to meet 100%, hence my first post to Graham reminding him. Graham’s second post removed any ambiguity about whether he was giving advice or just a recommendation to do more research, which is a crucial difference.

I could go on and on but I won’t because we are already into shades of meaning and the reality is ASIC can remove your licence any time they want anyway. But it doesn’t help you if you give them a reason to want to. They are red-hot on anyone they think might be a rogue, even if you think you were just careless.

Mælinar 10:39 am 23 Mar 08

So, in context – as everybody who posts on RA is unpaid in that role (as opposed to financial planners or reps or holders of other licences who are providing a fee based service), you agree completely with my post above, and were merely stating the obvious for the less perceptive readers of RA…

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