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Bi Monthly Market Update | Perth’s housing stock remains stubbornly low…

By Jody Fewster

Perth’s housing stock remains stubbornly low…

  • All eyes are on Friday’s economic symposium in Jackson Hole Wyoming where the Fed’s chairman, Jerome Powell, will speak about the future of US interest rates with a backdrop of US inflation drifting downward, but the job market remaining robust.
  • We are being warned Australia is facing a new era of slower growth and higher taxes as a result of an older population and less productive economy. A problem many countries are facing, however it’s here at home that must ultimately concern us.
  • Our market has been down over the last few weeks with the S&P ASX-200 closing at 7,148 today.
  • The recent Aussie dollar weakness is due to lower interest rates that we are seeing overseas and fears about China’s slowing economy affecting commodity prices.
  • The Aussie dollar is slightly above US.64c.  For context, over the last 25 years, our Aussie dollar spent 75% of its time between US65c and US90c.
  • Iron Ore is at $US108.63 and Gold at $US1,897.63.
  • Troubling, Australia’s new housing stock has been growing at 1.5%, well short of the 2.5% growth in the Australian population.
  • The number of properties available for sale in Perth is 5,205 this week, down from 8,479 the same week last year.
  • Call me now to discuss how these factors can be worked into a successful personalised plan 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. Please click here to read some of my testimonials.
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