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Bi Monthly Market Update | And more good news on our economic front!

By Drew Dwyer

And more good news on our economic front !!!

  • The RBA has kept interest rates on hold at 0.1%. All eyes will be on the July Meeting as they are expected to make announcements on tapering of Quantitative Easing.
  • Unemployment came in at 5.5% in April 2021, with the CBA expecting 5% by year-end and 4.7% by the end of 2022.
  • Business investment hit records in May contributing to strong GDP growth of 1.8% in the March quarter which pushed the ASX to a new high of 7295.4 on Friday.
  • The S&P ASX-200 closed yesterday at 7,292.6.  A +10.7% gain year on year.
  • The Aussie dollar closed at $US 77.48, the 40th straight day in the mid $US 77c.
  • S&P Global ratings have affirmed Australia’s credit rating to AAA making us one of only three countries to receive a boost this year and only one of nine countries to have AAA from the three leading rating agencies.
  • Investors lead a surge in Home Loans but still only account for 25.9% of the market, well down from the peak of 46% in 2015 when APRA and the RBA were concerned about speculative activity in the market.
  • There has been an increase in the number of homes for sale in Perth, up 14.9% in the last 3 months.
  • However, this doesn’t seem to be true for the tightly held Western Suburbs where buyers are still complaining about the lack of stock. Call me to see if I have your perfect buyer.

Authored by Jody Fewster

Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property. Please click here to read some of my testimonials.
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