Melbourne Property Market Update – June 8, 2013

By Peter Sarmas on 8 Jun 2013
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Week in Property










Source: The Herald Sun

After meeting this week, the Reserve Bank decided to leave the cash rate on hold at its record low 2.75%, choosing to wait and see what impact last month’s cut has on the economy.

Other property-related items in the news this week:

A recent survey revealed that over three fifths of real estate agents charge a commission rate between 2.1 and 3.0 per cent, though this can be higher in other states.
• Potential investors may find this article interesting – Pete Wargent outlines the basic characteristics of property as an investment.
• Curiously, men from high-income families are missing from the rental market, apparently because they’re still living with their parents.
• Confidence in Melbourne is improving, causing auction prices to swing above reserves. Catherine Cashmore comments on this, and more, in her summary of last weekend’s auction results.
• And finally, demand for retro properties seems to be on the rise. REIQ examines the current fascination with all things 50s

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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