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Bi Monthly Market Update | Investors are back!

•By Jody Fewster

Investors are back! 

  • The RBA left the cash rate on hold yesterday and was upbeat on the economy with unemployment forecast to be 3.75% by year-end.
  • Russia’s invasion of Ukraine is obviously “a major source of uncertainty” that is driving up inflation faster than expected on the back of soaring energy prices.
  • 4th quarter GDP data out today showed the economy grew by 3.4%, predominantly through increased household consumption as the Eastern States came out of lockdowns. Wages growth was subdued. The weak business investment number was the headwind.
  • The S&P ASX 200 closed up today at 7,117. The Aussie dollar is at $US .72c.
  • In February, Sydney house prices fell 0.1% while Melbourne were flat due to an influx of listings.
  • Perth house prices continue to grow with Corelogic reporting a 0.3% increase in values in February.
  • Rental growth, tightening vacancy rates and recovering immigration are drawing investors back into the housing market.
  • Call me to understand how these factors are affecting you and the value of your home.
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.
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