Melbourne Property Market Update – December 14, 2013
By Peter Sarmas on 14 Dec 2013
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Holden will stop manufacturing cars in 2017
Photo: DIBP images
The big news this week was Holden’s decision to stop manufacturing cars in 2017, which will result in a loss of about 2,900 jobs in both Adelaide and Melbourne.
In the wake of this bad news, it was revealed that unemployment rose to 5.8 per cent in November, though this was in line with economists’ expectations.
• In his weekend market wrap, Peter Sarmas examined why the real estate market has been so confusing at the moment, with some areas buckling due to oversupply, while others boast consistently strong clearance rates.
• Buyer’s advocate Cate Bakos offered a contrasting viewpoint on the situation, claiming there is no sign of slow down in the desirable suburbs.
• Have you considered purchasing an investment property interstate? There are both advantages and risks.
• Properties offering good security have extra appeal for both tenants and insurers – and there are some low cost security options available.
• Finally, you can get your tastebuds prepared for Christmas a little early this weekend at the Festive Foodie Market in Federation Square. There will be a smattering of market stalls offering everything from Christmas puddings and gingerbread men to BBQ ribs and tiger prawns, while live entertainment will enhance the festive atmosphere.
