Bi Monthly Market Update | The Bears are running – to Property! - News

The Bears are running – to Property!

Global inflation is expected to fall early next year as global supply chains stabilise and Central Banks’ tightening of monetary policy takes hold.
Last week saw the biggest weekly fall in global markets since March 2020. The S&P 500 is now in Bear market territory – defined as a 20% decline from a high.
The Federal Reserve raised the US cash rate by 0.75% to 1.75% in an effort to slow the economy and reduce higher-than-expected inflation numbers.
After a 7-day losing streak our markets and Iron Ore rebounded yesterday. The S&P ASX-200 is down slightly again today at 6,508, Iron Ore at $US 114.20 (still above the long-term average of $US 80/t) and the Aussie dollar still sub $US .70c.
We have a red hot jobs market with employment jumping by 69,000 in May, well above the market expectations for 25,000. Unemployment stayed at 3.9% due to the increase in participation rates which are the highest they have ever been.
NSW is the first State to offer first home buyers (paying less than $1.5 million) the choice of paying stamp duty or land tax with an annual fee of $400 plus 0.3% of the land value of the property. Will other states follow?
REIWA is advising we have a shortage of 8,000 homes in Perth which is expected to increase to 20,000 within 4 years, keeping upward pressure on prices.
There exist many distinct advantages to selling in winter, so call me today to capitalise on them.

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 | The Bears are running – to Property!