Sale and Rental markets are in short supply!
• The IMF are forecasting GDP growth next year of 6-7% for Australia after a fall of 6% in 2020. Optimistically, I am focussed on the recovery.
• Between the US oil market troubles (storage capacity shortages/costs leading to holders of futures contract being forced to sell), Virgin being put into administration and the RBA announcing they expected output to drop by 10%, our market struggled yesterday losing 2.5% for the second day in a row with the S&P ASX-200 closing at 5,221.3.
• After a roller coaster start to the year, the ASX-200 is now down 21.8% year to date. The Aussie dollar is at US 62.84 c.
• COVID-19 restrictions could begin to be lessened towards the middle of the year leading to an economic bounce back in the September quarter.
• Good news with the ANZ Consumer Confidence Survey showing consumer confidence has climbed for the third straight week. It’s now 30% above the historic low of the last weekend of March.
• More good news for WA in that iron ore prices have remained resilient with China showing a continued pick up in steel production.
• REIWA figures show there are 5% less properties listed for sale than 4 weeks ago which is 28% lower than levels seen a year ago. The rental market is similarly tight. Limited supply is good support for prices.
• Buyers are complaining to me about a lack of choice.
• Call me to see where your home fits in today’s market.
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.
As a landlord, protecting your investment property is about more than just securing tenants and collecting rent. Ensuring you have the right building insurance in place is essential to safeguard your asset against unexpected events such as fire, storm damage, or structural issues. At Ray White Cottesloe | Mosman Park, … Read more
Owning an investment property is not just about collecting rent, it is also about making the most of the financial benefits available to you as a landlord. One of the most valuable yet often overlooked opportunities is tax depreciation. By claiming depreciation, landlords can significantly reduce their taxable income and … Read more