9 Jul 2011

Rental property investment downturn feared

8:25 am on 9 July 2011

The Property Investors Federation says there could be a downturn in rental property investment if valuers have been overstating property valuations.

The Serious Fraud Office is investigating transactions where it says property values have been significantly overstated; some by 500% over their value market.

Several transactions have been referred to the Valuers Registration Board, and the SFO says it is considering charging one valuer with fraud.

The Property Investors Federation says any such activities could seriously erode confidence in the rental property market.