Melbourne Property Market Update – May 18, 2013
By Peter Sarmas on 18 May 2013
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All eyes were on Parliament this week as the Labour Government delivered its 2013-14 Federal Budget. Many in the property sector were critical about the lack of direct stimulus for the industry.
• However, there are some indirect benefits in terms of infrastructure, rental affordability, pensioner downsizing and superannuation reforms.
• The Housing Industry Association released a more scathing statement, declaring that the Budget ignores pressing housing issues.
• On a lighter note, if you’re in the mood for a laugh, a ‘hands on’ tenant has cut a hole in the floor of his rented apartment to expand the property into two vacant neighbouring units.
• This innovative off-grid home has interesting implications for the future of sustainable housing. Its design concept has occupants using exercise to offset their energy needs.
• And finally, if you’re off to an auction this weekend, it might be worth reading Catherine Cashmore’s summary of last weekend’s results. She considers the impact the Reserve Bank’s recent interest rate cuts could have on the Melbourne housing market.
