It’s on again… or hopefully not!

today•By Jody Fewster

Renewed conflict in the Middle East is pushing up energy costs and inflation risks, while the Trump administration is launching a new fight over tariffs, beginning with a 50% tariff on 550 assorted Canadian goods, but notably not oil or gas.
Aside from the Strait of Hormuz (which is at a standstill), there are other global disruptions to oil supplies, including Yemen’s Houthi militants threatening to blockade Saudi Arabia and Ukraine’s attacks on Russia in the Black Sea.
Weather agencies BoM and NOAA are looking out for an El Niño event later this year that puts fertiliser at the front of mind for global food production.
Equity markets are embracing every mention of a new peace deal with stocks back at or near record levels. The coolest quote I’ve read in a long time: Warren Buffett before the dot-com bubble bust, “Nothing sedates rationality like doses of effortless money.” That is food for thought.
On the commodities front, gold is up to US$4,079, though still approx 25% off its all-time high of US$5,440 reached in late January. Copper is up at US$6.55 a pound on tightening supply in China. Brent crude is at $92.15, and Iron Ore is at US$98.65 a ton.
The S&P/ASX 200 is up at 8,823 and the Aussie dollar is trading at US70.22c. All eyes on the next inflation update on July 29, with most economists expecting the RBA to leave rates on hold until at least 2027; Traders see a 56% chance of a rise by December this year – get a crystal ball.
On the property front, REIWA stats are showing properties available for sale are up again to 6,509, with the number of houses at 4,504 in Perth. Median selling days have moved from 9 to 17 over the past 6 months.
As the market continues to change, it’s essential to know that not all segments of the market are changing in lockstep. Call me to understand the nuances of market segmentation and how it impacts the value of your property.

Jody Fewster

Please contact me on 0414 688 988 or by email at jody.fewster@raywhite.com
Please click here to read some of my testimonials.

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Different Ways to Sell Your Property

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