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REIQ Journal : June 2008
INDUSTRY NEWS ASIC investor research released ASIC has released the findings of research relating to Australian consumers’ understanding of investments and their levels of financial literacy. A survey of 1,200 Australian investors and several focus groups showed that: less than half of the investors (47 per cent) had a long-term financial goal; around half of the investors (49 per cent) had only one type of investment (for example, property only or shares only); and investors often decided to invest based on external, lifestage pressures such as divorce, inheritance, redundancy or retirement, rather than as part of a proactive plan to become an investor. While the concepts of risk and return were among the most important factors considered by investors, the research showed that only 35 per cent were able to correctly select (from a multiple choice list) the “reasonable” rate of return to expect from property investment. The research also showed that: investors tend to believe that property investments are inherently safe; women are more likely to be at risk of underinvestment; high interest savings accounts are the only investment type that women are more likely to have than men; and men are over-represented among those attracted to risky investments. ASIC will use the findings of this research to help inform its thinking on investor issues going forward. More than 400 property managers from throughout Queensland converged on the Brisbane Convention and Exhibition Centre on Friday 16 May for the 2008 REIQ Property Management Conference. The day’s speakers and topics were specifically selected to provide a balance of personal development and business skills for professionals in this vital industry sector. Attendees benefited from a wealth of information, innovation and inspiration, and received practical solutions to some of the most common areas of concern in the property management profession. The world-class line up of speakers included Libby Gore (aka Elle McFeast), Kati Jacobs, Malcom Riley and John Tickell. A panel of industry experts also led a frank discussion of the big issues facing property managers today and examined strategies for staying compliant and succeeding. 3 More Australian families choose regional living More Australian families are moving away from cities and into regional and coastal centres, according to a comprehensive study of the nation’s rural and regional communities. The 2008 Country Matters: Social Atlas of Rural and Regional Australia reveals that the 2006 Census recorded more than 7.5 million Australians living outside capital cities – an increase of 472,700 since 2001 – with the largest growth in coastal Queensland. The report also confirms that people, and in particular rural families, have been leaving smaller rural communities. A key finding of the report is that home ownership rates are higher in rural areas than in major urban centres. More than three quarters of homes in rural areas (76.2 per cent) and more than two thirds of homes in small towns (69.4 per cent) are owned or being purchased. This is higher than the rate of home ownership in major urban centres (63.6 per cent). REIQ Journal June 2008