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Bi Monthly Market Update | On the precipice of demand – we remain Australia’s most affordable market…

By Katy O'Shea

On the precipice of demand – we remain Australia’s most affordable market…

  • After a big sell-off over the last two weeks, equity markets recovered as fears and uncertainty over Omicron eased. The S&P ASX – 200 is up another 1.25% today at 7,405.
  • The RBA kept interest rates on hold in their last meeting of the year. The economy is rising faster than expected and with wages only rising 2.2% in 2021 they will wait for 3% wages growth and inflation sustainably within their 2-3% target range before lifting rates. They are patient – the RBA last raised rates 11 years ago!
  • After falling below $US 70c for the first time in a year, the Aussie dollar has risen to $US 71c.
  • The IMF has put pressure on Treasurer Frydenberg to undertake serious tax reform including cutting the corporate tax rate, increasing and/or broadening GST whilst compensating low-income earners and switching from stamp suty to an annual land tax to encourage people to move for jobs.
  • The latest Ray White Now is out with Nerida Conisbee providing great advice on Why to Sell in Summer.
  • REIWA is forecasting a 10% rise in Perth property prices for 2022.
  • Increased supply of homes for sale on the East Coast has not been replicated in Perth and we are anticipating a sizeable increase in interstate demand when our borders reopen.
  • Call me to see how this demand and supply scenario plays out for your personal advantage.
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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