Property scams surge as market slows
Cooling market conditions, tax policy changes and increasingly sophisticated AI-powered scams are creating fresh risks for property buyers and sellers, with industry experts warning that unscrupulous operators are adapting faster than consumers.
Property scams are evolving rapidly, shifting toward sophisticated digital methods like payment redirection, fake identity takeovers, and fraudulent online rental or land listings. (Image source: Gekko-Gallery+AntonKhrupinArt/Shutterstock.com)
Buyers and sellers need to be particularly careful of scams and unscrupulous operators, with recent property tax changes and the market slowdown encouraging bad actors, according to experts.
Tyron Hyde, CEO of quantity surveyors Washington Brown, said the Federal Government’s scrapping of negative gearing for established homes could leave buyers exposed to agents pushing overpriced new properties.
Mr Hyde said he was concerned about the “uninte…
