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Perth buyers desperate for homes…

•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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