Issue Date:  -  Friday, 10 October 2003

The facts of property investment disclosed by Consumer Protection

The Department of Consumer and Employment Protection is fighting back against ‘get rich’ property investment workshops with an alternative property seminar of its own. The purpose of this public seminar is to provide solid, accurate information from independent professionals who have no financial interests.

Investing in property can be worthwhile if done right and entered into with reliable and independent information.

Consumer Protection is hosting a Property Investment Seminar on Thursday the 30th October that is open to anyone thinking about buying property as a source of income.

Being held centrally at the Sheraton Hotel the seminar costs just $20 per person and includes light refreshments. The seminar commences at 6.30pm and concludes at 10pm.

Presenters include the Regional Commissioner of ASIC; the Valuer General’s office; the Real Estate Agents Supervisory Board Registrar and the head of property, economic and finance studies at Curtin University.

“A number of property investment promotions being made in the marketplace give us reason for concern”, Deputy Consumer Protection Commissioner Anne Driscoll said.

“People are being enticed along to ‘free’ events and then find themselves being lured into expensive ‘educational’ programs costing up to $15,000.

“One organisation promises to make people millionaires in just six months without using their own money, equity or debt.

“We strongly urge anyone thinking about property investment, especially newly retired people with superannuation funds, to attend and find out the real facts”, Ms Driscoll said.

Bookings can be made by telephoning BOCS on 9484 1133 or 1800 193 300 for country callers.