Perth buyers desperate for homes…

11 months ago•By Jody Fewster

China’s growth is showing signs of slowing – a 27% drop in sales in the property sector in the six months to June isn’t helping. That said, the IMF has upgraded its growth forecast for China to an impressive 5%, second only to India, which is expected to grow at 7%.
Despite emerging signs of weakness in the US economy, the IMF is still forecasting the US to grow at 2.6% (double the anticipated growth in the next strongest G7 nation – Canada at 1.3%). The IMF has slightly cut the Australian growth forecast for 2024 to 1.4%.
Expectations around future interest rate cuts are driving US and Australian equity markets to new highs.
The S&P/ASX 200 is trading close to its all-time high at 8,075 as I type. Aussie Dollar is at US 67.4c with forecasts for US 70c in the coming months
Gold is at an all-time high of $US 2,466 – up 21% this year.
Perth’s rental vacancy rate has eased due to high investor activity (up to 1.25%). Some are saying the standard market vacancy sits between 2.5% and 3.5%.
Perth has run against the national upward trend with new sales listings down year on year by 5.7%
Proptrack’s director of economic research has stated, “Price growth has moderated from recent peaks, but the lack of stock coming to market is likely to result in persistent strong price increases.”
Wondering how all this affects you? Call me for a confidential, obligation-free conversation about the value of your home or investment 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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