Concerns of a secondary surge C-19 in the US and China agitated markets last week, only to rebound yesterday with news the Federal Reserve increased stimulus measures through the buying of private debt.
The S&P ASX 200 closed up 3.9% to 5,942.3 and the Aussie dollar was up at $US .693.
All eyes are on tomorrow’s unemployment data for April and May trade data on Friday, hopefully showing a rebound.
Whilst we are in a recession, it was great to read in The Australian this morning that “an increase in credit card spending, rises in the number of people working and new researching showing consumers are poised to ramp up spending on entertainment and retail have lifted hopes that the worst of the COVID-19 downturn may be over”.
As the end of the financial year approaches, it is time to get your Tax Depreciation schedules updated – BMT Quantity Surveyors offer a discount to Ray White clients plus a 6-month magazine subscription – https://tinyurl.com/ycwsfqwf
Just mention Ray White Cottesloe | Mosman Park.
The table below gives a roundup Sales Statistics in the western suburbs over the last Financial Year.
Corelogic has put out a very positive article on the Perth property market and how well we are faring in maintaining prices https://tinyurl.com/y9qdlxgb
There are currently 11,126 properties listed for sale in Perth. This compares to 11,603 four weeks ago and 15,892 for the same week last year. No wonder buyers are complaining of limited choice.
If you are thinking of moving in the next 12 months, now is the time to come to market. It’s a sellers’ market.
Call me for a strategy to get you moving.
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.
US consumer prices rose 3.1% in the year through January cooling less than had been expected. The S&P 500 was above 5,000 for the first time on Monday putting it into “nosebleed territory” but has since come off after that hotter than expected inflation figure, which has clouded rate cut expectations. … Read more
The IMF has upgraded its forecasts for world growth to 3.1% this year, although Australia’s is expected to be 1.4% in 2024 and 2.1% in 2025. With annualised growth coming in at 3.1% for the US – the strongest of any major advanced economy – it doesn’t look like the Fed … Read more