Bi Monthly Market Update | Perth’s median house price hits a new high!

• The RBA kept rates on hold at 4.1% yesterday, which saw the S&P ASX-200 climb .54% to 7,450.
• Today our market is down after “Fitch downgraded the US sovereign debt rating to AA+ from AAA on an “erosion of governance”, because of “the repeated debt-limit political standoffs and last minute resolutions””. (The Australian)
• It wasn’t great news for the Aussie dollar, which fell to US .66 (down 1.54%).
• The Bureau of Statistics has reported a 20% annual slump in new home loans for both owner occupiers and investors, showing the market for mortgages remains weak and that borrowers are doing it tough.
• Perth’s median house price rose to a new high of $560,000 in July, up 0.9% higher than in June and 4.7% higher than a year ago. The previous peak was $545,000, set in 2014.
• Now is the day to call me for the perfect plan to get you sold in Spring.

Authored 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.