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

By Jody Fewster

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.
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