Sell with Confidence
Read More
News

Bi Monthly Market Update | The RBA holding rates – a welcome pause!

By Jody Fewster

The RBA holding rates – a welcome pause!

  • Despite global uncertainty around growth and inflation, the US economy remains strong. Inflation is coming down, albeit slower than desired but without causing a recession. US unemployment was 2.7% in May, up from 2.5% in December with June numbers out this Friday.
  • The RBA left our interest rates on hold at 4.1% quoting a “substantial slowing’ in household spending despite the tight labour market conditions and wage increases.
  • With inflation at 5.6%, unemployment down to 3.6% and building approvals soaring 20.6% in May plus pay rises for workers on enterprise bargaining agreements the highest in 11 years, I’m predicting another rate rise in August.
  • Other Central Banks have pushed rates to 5% or more, The US Federal Reserve is at 5.25%, Bank of England sitting at 5% and Bank of New Zealand is at 5.5%.
  • The S&P ASX -200 is down as I type at 7,250 and the Aussie dollar edged lower yesterday to US 66.8c.
  • The housing market eased after last month’s interest rate rise with the rate of growth in all capital cities declining. Listings remain incredibly low which bodes well for Perth prices.
  • Perth recorded the biggest annual rental price jump in Australia – rents are up 15.6% year on year.
  • We can help you prepare your home for a Spring Sales Campaign, so call me to see how we can get to work for you today.
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.
Up to Date

Latest News

  • Economic growth slows…further

    The latest US jobs data shows their economy is losing momentum, but this has done little to halt markets. The ABS has just announced that real GPD expanded just 0.1% for the March quarter, dragging annual growth to 1.1%, its weakest since the recession of 1992. The big difference back then, … Read more

    Read Full Post

  • Metals surge…

    Geopolitical tensions remain high, with flare-ups in several countries and new uncertainty in the Middle East. China announced moves to shore up its property market by removing the floor on mortgage rates, cutting the minimum down payment requirements for individual home buyers, and encouraging local governments to acquire homes and convert them … Read more

    Read Full Post