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Sellers are still in control…

Ongoing geopolitical tensions in the Middle East, Ukraine, and Taiwan, looming elections in many countries, and stubbornly high inflation are causing markets to lessen their expectations of rate cuts.
The end of the financial year saw the S&P/ASX 200 +7.8% (above the decade average of 4.8%). In the US, the S&P 500 gained 23% for the same period and the NASDAQ 30%. Overnight the S&P 500 hit another record high.
Last week’s inflation figure of 4% annually was the third straight month above expectations. The RBA minutes revealed the debate included raising rates. If the June Quarter inflation data out on July 31 is above the RBA forecast, I expect we’ll see a rate rise in August.
According to yesterday’s edition of The Australian newspaper, we need to build a new home every two minutes to accommodate population and immigration growth. This could be a problem, given that nearly 3,000 building companies went broke last year.
In WA alone, the population is now above 3 million, two years ahead of government predictions. The demand for our housing will only increase with the announcement that WA has secured a further 10,000 visas for skilled workers.
Thank you, and congratulations to all our sellers who helped me and my personal team sell $207 million worth of property in the financial year.
Perth prices continue to climb, however at a slowing rate. So, call me today for a strategy to ensure you sell whilst we are still in a Seller’s market.

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.