Melbourne Property Market Update – July 5, 2014
By Peter Sarmas on 5 Jul 2014
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Photo courtesy of: Sydney Morning Herald (Town Real Estate)
Recently, many properties have sold on auction day or within a week after the auction, yet recent figures suggest a downturn in the property market is expected in the near future.
• This week, Peter Sarmas mentions that rising interest rates and an oversupply of city apartments may hurt the property market but a projected stronger Australian economy should stabilise property prices.
• Meanwhile buyer’s advocate Cate Bakos conveys why a certain beachside suburb has won the hearts of the tourists and has locals remaining there for decades.
• It’s been argued that quite often, myths or commonly accepted facts about the property market can turn out to be incorrect when a review of the actual numbers is conducted.
• Oscar award winning Hollywood actress Anne Hathaway has sold her Brooklyn condo after using the three bedroom apartment as a walk-in-wardrobe.
