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

2 years ago•By Jody Fewster

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.

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