Melbourne Property Market Update – August 16, 2013

By Peter Sarmas on 16 Aug 2013
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This week Street News has taken a look at the future of the Australian property market and from all aspects, it looks like good news. Recent RBA rate cuts seem to be set to further boost an already booming market, and it certainly hasn’t hindered property clearance rates over the weekend.

• We took a look at the 0.25 per cent rate cut which was passed on by banks and lenders around the nation and has led to a 59 year low interest rate of 2.5 per cent and how this has affected the property market.

• Catherine Cashmore analyses what the cuts mean for the election, and whether low interest rates indicate good or bad economic management.

• Overall it seems we have found ourselves in a positive position in terms of our economy – Pete Wargent explains why we should be pleased with the current economic situation.

• Buyer’s advocate Cate Bakos discusses the perks of buying property in Yarraville – and explains why it’s set to be one of the hotspots in the property boom.

• With all this good news, we thought it would be beneficial to put together a list of things to consider when buying your next house.

About the Author

Peter Sarmas is a Certified Property Investment Advisor (PIAA) and Vendor/Buyer Advocate. Before becoming the founder of Street News, Peter completed a Degree in Applied Science (Chemistry) and a Graduate Diploma in Property Valuations (Hons). Peter believes property investing is a major and potentially risky undertaking. In his view, everyone should have an independent person acting on their behalf when seeking property investment advice.

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