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

By Katy O'Shea

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.
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