Melbourne Property Market Update – November 16, 2013

By Peter Sarmas on 16 Nov 2013
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Photo: Michael Coghlan

This week, the Housing Industry Association (HIA) predicted a steady recovery for renovation investment and strong growth in the housing sector over the next few years. In their spring National Outlook report, they claim dwelling commencements could eventually match the highs achieved during the post-GFC stimulus.

• Peter Sarmas discusses some of the other housing data released over the last week, including the RBA’s quarterly statement and unemployment data for October. Combined, this is sure to keep us guessing about the future of the economy and the housing market.

• Cate Bakos had a busy weekend attending auctions across Melbourne. One particular auction in Heidelberg attracted heated competition. But what made the property so popular?

• The NSW state government recently made a raft of changes to NSW strata laws – their biggest overhaul in 50 years.

• A new green building rating tool promises to help the energy efficiency of existing public buildings. This is sure to be a great boon for the sustainability sector.

• Finally, it’s Good Food Month in Melbourne, and if you’re looking for a night out with the family, the iconic Night Noodle Markets will bring Alexandra Gardens to life next Monday in a vibrant Asian-style market.

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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.