Sell with Confidence
Read More

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.
Up to Date

Latest News

  • Tech stocks drive the US market to new highs*

    The rise of tech stocks in the US has again pushed markets to new highs with the NASDAQ +17% year to date and the S&P 500 +14%. As expected, the RBA kept rates on hold at 4.35%. No one is expecting rate cuts in 2024, and the door was left open … Read more

    Read Full Post

  • Economic growth slows…further

    The latest US jobs data shows their economy is losing momentum, but this has done little to halt markets. The ABS has just announced that real GPD expanded just 0.1% for the March quarter, dragging annual growth to 1.1%, its weakest since the recession of 1992. The big difference back then, … Read more

    Read Full Post