Menu
Sell with Confidence
Read More
CloseCottesloe Mosman Park
Loading...
Contact Us
News

Ho Ho Ho – it’s a Santa rally…

•By Jody Fewster
  • Fears that attacks in the Red Sea shipping route will disrupt supply have pushed up Oil prices (+4% on Monday).
  • Sending ships around South Africa’s Cape of Good Hope adds 20% to travel times and the additional cost burden. The flow-on effects may impact future inflation.
  • The US left their cash rate on hold last week with Jerome Powell indicating “cutting rates had now come into view”.
  • While many forecasters predicted a recession in the US in 2023, there has been a surge in manufacturing investment, a resilient labour market and falling inflation. US equity markets have had a great year with the NASDAQ up +45% year to date and the S&P 500 up +24%.
  • M&A activity in our resource sector plus the oil price rally pushed our market higher this week with the S&P/ASX 200 closing at a near 10-month high yesterday at 7,489. The index is up +6.4% year to date.
  • The All Ords Gold is up + 23% year to date. The Aussie dollar is $US 67.2.
  • WA’s economy grew 3.5% in the last financial year, the strongest in the nation. The mid-year budget review out yesterday saw Iron Ore royalties add $3 billion to our State coffers (Iron Ore prices have averaged $US 117 since July 1 against budget of $US 74).
  • Ray White’s chief economist, Nerida Conisbee, reports Perth house prices have risen 20% over the last two years, while construction costs have risen 40%.
  • Perth’s median home value of $646,520 is almost half the Sydney median of $1,125,000.
  • I would like to wish everyone a very Merry Christmas and I look forward to helping you with your real estate dreams in the new year.
Share:
Back to all news
Up to Date

Latest News

  • •By Matthew Smith

    It’s all eyes on the US for 2025!

    Anti-incumbent sentiment has seen the leadership of the world’s richest economies in turmoil. After France, came the collapse of the German government. Both Canada and South Korea are in turmoil. Italy, of all places, looks stable. Go figure! Geopolitical tensions in the Middle East are continuing with the initial joy over the freedom … Read more

    Read Full Post

  • •By Matthew Smith

    Is the Trump Rally coming to an end?…

    With all the goodwill around the world, there is sadly little relief in sight in the Middle East and Ukraine right now. The US election result has produced a “Trump Rally” on markets, with the S&P 500 hitting new all-time high on Tuesday and recording +25.34% year to date. The NASDAQ … Read more

    Read Full Post