The Board decided to lower the cash rate by 25 basis points to 2.5 per cent, effective 7 August 2013.
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Industry News
Michael is a director of Metropole Property Strategists who create wealth for their clients through independent, unbiased property advice and advocacy.
Melbourne’s recent price performance has been poor, declining by 11.0 percent(houses) and 7.4 percent (units) since peak as at May 2012, according to RP Data-Rismark. Yet, despite the sharp decline in values, Melbourne’s housing market still offers the worst investment fundamentals in the nation and is the market most at risk of a severe house price correction.
In these changing times, when property investors can no longer count on double digit price growth , many are considering getting started in property development to help them ‘manufacture’ some capital growth. While property development can be very lucrative, many beginning property developers get themselves into trouble because they don’t know what they don’t know.
