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Economic growth slows…further

By Jody Fewster
  • 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, in my mind, was trying to find a job fresh out of MBA school with an unemployment rate of nearly 11 percent.
  • Oil is at a 4-month low of $US 77.5 a barrel after OPEC+’s decision to taper production. Iron Ore is below $US 108/tonne. Gold has also trended down over the last ten days.
  • This weakness in commodities has weighed on the S&P/ASX 200, which closed back up at 7,769.
  • I’m sure the WA government will closely watch the impact of South Australia’s removal of stamp duty for first-home buyers on all new builds and existing stock. It’s a demand-side policy, and we are more desperately in need of supply-side housing incentives.
  • Sellers often ask me, should we wait until Spring to sell? The answer is no, not unless you’ve got 100+ rose bushes. Stock levels are still incredibly low (less than 1,900 houses for sale), so there’s a lot of buyers for your home.
  • Call me today for a confidential discussion on how to maximise the value of your home in the winter months through skilled professional presentation, customised to your property.
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. Please click here to read some of my testimonials.
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