Overseas interest in Perth’s property surges – from new sources…

1 year ago•By Jody Fewster

The IMF has upgraded its forecasts for world growth to 3.1% this year, although Australia’s is expected to be 1.4% in 2024 and 2.1% in 2025.
With annualised growth coming in at 3.1% for the US – the strongest of any major advanced economy – it doesn’t look like the Fed will cut their rates any time soon. Interestingly, 3.1% is still slower than the 3.8% average global growth over the past two decades (Axios).
The S&P 500 reset its record on Tuesday.
Unphased by sluggish retail sales, the Aussie dollar was up yesterday at $US .657.
Just out, CPI shows inflation has slowed to 4.1% in the year to December quarter from 5.4% in September. Whilst moving in the right direction it’s still well above the RBA’s target of 2-3% so I don’t think our rates will change at their next meeting next Tuesday.
The S&P/ASX 200 is up on the news and within reach of a record high as I type. All eyes on February’s reporting season with expectations of flat interim earnings growth.
Supply of rental properties have plummeted to half the 10 year average of properties that would normally be available. This is a bigger proportion than any other state (REA PropTrack).
The Government has quietly abandoned the Significant Investor Visa or “888” which had bought property investors from China.
Overseas interest in WA’s property market surged 20% in 2023 with most searches coming from Britain, NZ, USA, Singapore and Indonesia.
Call me today to create a totally personalised plan to get your home or investment property in front of these buyers.

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