Bi Monthly Market Update | Scaremongering rife in the Eastern states over property prices…Perth holds. - News

Scaremongering rife in the Eastern states over property prices…Perth holds.

The global growth outlook continues to decline with Central Banks further tightening interest rates to combat inflation.
The S&P 500 has shed over 20% this year and is on track for its worst year since 2009. The tech-heavy Nasdaq is down over 30%. By contrast, the S&P ASX-200 is only down 6.5%.
The S&P ASX-200 is trading up today on US gains and is back up above 7,000 as I type. The Aussie dollar is up at $US .645.
Although consumer spending is holding, Westpac is reporting the latest consumer confidence data suggests this will change in the new year.
Shane Oliver, AMP Head of Investment Strategy and Chief Economist, outlines several reasons why Australia should be able to avoid a recession: “the business outlook is solid; there is a large pipeline of homebuilding work; high energy prices boost national income, and the RBA has moved into the more cautious lane in rate hikes”. We have a much lower risk than other major countries.
All eyes are on October’s US inflation figures, out on Thursday.
Perth is still the most affordable capital city in the country and interstate migration is driving demand in a limited supply market.
Call me today for a plan to get you moving now or in the new year.

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.

Bi Monthly Market Update | Scaremongering rife in the Eastern states over property prices…Perth holds.