Employment figures effect on the Property Market
July 9, 2010 by Tim
Filed under property market, Renovating
The favourable employment figures are excellent an extra 350,000 jobs in Australia over the last year. I realise almost one third of these new jobs created are Part- time jobs, but they still count. I argue, many persons might be working two part-time jobs. This is really excellent news, especially when one checks the figures in USA and Europe which are both close to or over 10% unemployment, Spain over 20%. In Australia, the official unemployment rate is 5.1%. The even better news, is the June employment figures show an acceleration in employment growth. Of the new jobs created more than 33% or 105,000 are in Victoria. The implications for the property market, are, when more are employed, the more easily they can buy property or hold their homes. So simplistically, more jobs, more income, more home buyers, and less sellers. This all suggests a supporting action for home values.
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