Sell with Confidence
Read More
News

Bi Monthly Market Update | Faring better and lucky to be in the West…

By Jody Fewster

Faring better and lucky to be in the West…

  • US stocks continued their stellar recovery on government stimulus, signs of economic revival, and more progress toward a vaccine. The S&P 500 alone has surged 35%, its largest five-month percentage gain since 1938.
  • The Treasurer today made it official – we are in a recession with a 7% contraction in GDP for the last quarter.  Whilst it’s a shocking result we have fared much better than most other economies (with UK – 20%, USA – 31%, India – 24%, Canada – 12% heading up a long list).
  • The RBA has kept the cash rate on hold (0.25%) and extended a further $110 billion lending line to the banks so that businesses and households can continue to borrow at cheap interest rates.
  • The Aussie dollar reached a 2 year high yesterday which saw a sell-off in our share market. It is now trading at $US 73.37c as I type and the S&P ASX – 200 is back up at 6045.
  • At the end of the reporting season, the ABS data showed company profits jumped 15% in the June Quarter when economists had expected a fall.
  • A further deterioration in China Australia trade relations hits WA as China has suspended imports from CBH (Australia’s largest grain exporter).
  • Iron Ore hit $US 128.5/t on Monday up from $US 73/t in March, with Fortescue now WA’s biggest ASX listed company; go the boy from WA!
  • The Australian is today reporting that “house prices have proved remarkably resilient”. Perth has seen no reduction in prices, and the South West of our State is experiencing a mini boom.
  • The rental market is so tight we are desperate for more homes for our ever-expanding tenant’s database, so for all your leasing and property management needs call us for a plan.
  • My team and I are standing by to successfully and professionally handle ALL of your property needs.

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.
Up to Date

Latest News

  • Is there “fog on a runway”?

    The S&P/ASX 200 hit a fresh intraday record this morning at 8639.1 on encouraging news of a trade truce between the US and China. Trump now seems focused on the Art of Distraction over the Art of the Deal. The Aussie dollar is now at US .651c (up 8% since April) and … Read more

    Read Full Post

  • It’s all eyes on the US for 2025!

    Anti-incumbent sentiment has seen the leadership of the world’s richest economies in turmoil. After France, came the collapse of the German government. Both Canada and South Korea are in turmoil. Italy, of all places, looks stable. Go figure! Geopolitical tensions in the Middle East are continuing with the initial joy over the freedom … Read more

    Read Full Post