Job market activity could be good news for residential property investors
One of the biggest parts of the economy to suffer during a tough job market is the residential ...
One of the biggest parts of the economy to suffer during a tough job market is the residential property industry - with a slowdown affecting a range of important contributing factors.
So it is little surprise that the news of a decrease in both the number and percentage of the unemployed across the nation was met with positive outlooks from sector professionals.
According to a release from the Australian Bureau of Statistics (ABS) on May 10, the seasonally adjusted unemployment rate fell 0.2 per cent to 4.9 per cent over the month of April.
This is the result of a positive shift in job roles filled - up 15,500 to 11,501,000 - and a decrease in unemployment by 28,800 people down to 598,200.
Reports also indicate that the aggregate number of working hours has increased over the same time period by 6.6 million to 1.633 billion nationally.
For those interested in entering into property investment or expanding their portfolio, this makes the market much more appealing than in previous years.
With the right advice and careful planning, residential real estate purchases today could provide a valuable source of income that complements other wealth generating activities.