• US election uncertainty and Europe’s rising COVID-19 cases weighed on our markets yesterday with the S&P ASX-200 trading little changed, as I type, at 6,194. The Aussie dollar has edged down towards US 70c.
• China continues to help the shattered global economy with its GDP climbing 4.9% in the third quarter, thus the world’s 2nd biggest economy regained all ground it lost in the first half.
• Standard & Poors have retained the Federal Governments AAA credit rating meaning we are only one of nine countries to hold the rating from all three major agencies.
• Household debt levels are the skeleton in the closet for WA.
• Homebuilders are happy to get an extra 12 months to start work on new homes under the State Government’s $20,000 grant programme for contracts signed by 31 December. There is now pressure on the Federal Government to extend their $25,000 grant, which currently requires significant works to commence in 3 to 6 months.
• In order to spur business activity and jobs growth, the RBA is now expected to cut the cash rate to 0.10% from 0.25% at their 3 November meeting, plus declare their intent about outright quantitative easing via large scale Bond purchases.
• The rental market vacancy rate fell under 1% for only the third time in the last 40 years.
• Days on market are dropping and home opens have been the busiest we have seen for a long time.
• We have high demand for both sales and rental properties.
• Having sold over $15 million worth of stock in the past four weeks, I have buyers waiting for me to find them their next perfect home.
• Call me today for a customised plan to sell your home.

Authored by Jody Fewster