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

  • We are so lucky to live here…

    US consumer prices rose 3.1% in the year through January cooling less than had been expected. The S&P 500 was above 5,000 for the first time on Monday putting it into “nosebleed territory” but has since come off after that hotter than expected inflation figure, which has clouded rate cut expectations. … Read more

    Read Full Post