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Bi Monthly Market Update | Spring into a blooming seller market…

By Katy O'Shea

Spring into a blooming seller market…

  • Last week saw the September quarter CPI figures out with underlying inflation rising 0.7% bringing the annualised figure to 2.1% which is the first time in six years it has been within the RBA’s target range.
  • As expected, the RBA left rates on hold yesterday at 0.1%. The market is now betting that there will be a tightening in 2023, or even the second half of 2022, when the labour market is tight enough to generate wages growth and push inflation “sustainably” into the RBA’s target range of 2%-3%.
  • After downgrading the GDP growth forecast for 2021, the RBA has revised up its forecast for 2022 to 5.5% from 4.25%. It also tipped wages growth of 3% over 2023.
  • S&P Global upgraded WA’s long-term rating outlook from stable to positive.
  • After closing lower yesterday the S&P ASX-200 is now up at 7,386 as I type.
  • After hitting a four year high of $US 75.55c last week, the Aussie dollar is now down at $US 74.2 c.
  • Whilst new home listings soared by 41% in Sydney and 82% in Melbourne, Perth listings remain stubbornly low. There were only 3% more homes for sale in October than in September.
  • It’s still a seller’s market, call me to see if your home suits one of my many buyers.

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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