Melbourne Property Market Update – February 7, 2014

By Peter Sarmas on 8 Feb 2014
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Melbourne Property Market Update – February 7, 2014

The Greek community’s Lonsdale Street Antipodes Festival can be enjoyed all weekend

Auction activity around Australia is set to pick up steam this weekend390 properties are expected to go under the hammer in Melbourne, a figure considerably higher than the 219 auctions listed on the same weekend last year.

• Street News articles of note this week include Peter Sarmas’s Monday property commentary, in which he considered reports that the property market appears as buoyant as it was back in 2010.

• Buyer’s advocate Cate Bakos discovered the strong growth prospects that can be found in leafy Armadale.

Is negative gearing to blame for first home buyers’ woes? Aussie Home Loans founder John Symonds went as far as to say that negative gearing is killing the first home buyer market.

• Rising unemployment could lower the value of the Australian dollar further, making local properties even more attractive to foreign investors.

• And if you’re looking for a fun family activity this weekend, look no further than the biggest Greek street party in Australia – the Lonsdale Street Antipodes Festival – where there will be free entertainment, kids’ activities, food stalls and a rollicking dance competition.

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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