Melbourne Property Market Update – July 6, 2013

By Peter Sarmas on 6 Jul 2013
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Home Renovation

Home renovation fever has been strong in Australia this week. The Block Sky High and House Rules both rocketed ahead in the ratings during their final renovation episodes.  

• While The Block Sky High has yet to finalise its big auction day, the contestants have selected the real estate agents who will be representing them. 
• Over on Channel 7, viewers chose Carly and Leighton as their House Rules champions, meaning their $450,000 mortgage will be paid off in full. 
• Unfortunately for the general public, mortgage delinquencies have increased across Australia. Tourism and retirement postcodes in NSW were the worst hit regions.
• In her weekly auction wrap, Catherine Cashmore discusses the first home buyer grant’s effectiveness as a savings mechanism.
• Finally, you might be interested in Kevin Rudd’s multi-million dollar property portfolio.

 

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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