Melbourne Property Market Update – March 21, 2014
By Peter Sarmas on 22 Mar 2014
No Comments yet, your thoughts are very welcome
Melbourne Property Market Update – March 21, 2014
Photo: Donald Y Tong
The Reserve Bank of Australia has released the minutes from its March 4 meeting, which indicate that interest rates are likely to remain at record lows for some time. This is expected to drive new housing activity throughout 2014.
• On Street News this week, Peter Sarmas examines inner city price rises in the Melbourne property market, and the impact this will have on the outer suburbs.
• Cate Bakos considers how important it is to tailor your property investment strategy to your individual needs.
• The national vacancy rate continued to decrease during February, and Melbourne recorded its lowest vacancy rate since May 2011, though SQM Research still strongly warns against investing in Melbourne’s CBD.
• The city’s hotel market is set to explode in coming months. Due to demand for hotel rooms in the CBD, we will soon see 5000 new rooms, though it is unlikely supply will outstrip demand.
• And finally, Blockaholics can head along to the The Block Open for Inspection extravaganza this weekend, when all four apartments open their doors. Our advice? Line up early! It should be a busy day.
