Rising national unemployment, which reached 7.5 per cent in July, would not necessarily undermine property markets, ASPIRE Property Advisor Network argued, because a single national figure masks wide variation between industries and locations. Values had proved resilient, easing about 2 per cent in Sydney and 4 per cent in Melbourne since March. Investors were urged to weigh suburb level employment, industry mix and household incomes instead.
Reported by
Richard Crabb, ASPIRE Property Advisor Network, 18 September 2020
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