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Bi Monthly Market Update | Property prices cool in hot share markets…

By Drew Dwyer

Property prices cool in hot share markets…

  • US Shares ended June with the fifth-best first half calendar year performance over the past 100 years, according to data compiled by the Bank of America.
  • The Wall Street Journal has reported that “US home prices are rising at the fastest pace in 125 years, reflecting how fiercely buyers are competing for a limited supply of homes in nearly every corner of the country”.
  • The ASX ended the financial year last Wednesday at 7,313 up 24% and the All Ords gain of 26% was the biggest gain in 34 years.
  • The good news continues with retail sales data showing strong growth and ANZ job ads 40% above pre COVID levels.
  • The RBA left rates on hold today at 0.1%.
  • The S&P ASX 200 is down today slightly at 7,310. The Aussie dollar is at $US .75c.
  • Corelogic has reported on the Australian housing market and its impressive growth over the last financial year – “led by houses which rose 15.6% over the year, compared with a 6.8% lift in unit values”. However, they caution that despite the growth there are signs that some “heat is coming out of the market with the loss of momentum most evident across Perth and Darwin”.
  • Call me to quietly discuss what all this means for the value of your home and ponder your next move.

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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