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A seller’s market…

•By Jody Fewster
  • Further geopolitical tensions in the Middle East cause rising fears of further escalation.
  • China’s GDP numbers out today show their economy grew at 5.2% growth which is enviable given predictions for Australia’s growth at less than 2% this year.
  • The commodities space has been on a rollercoaster with the Uranium bulls cheering as the price hit a 16 year high. The price rallied 70% last year amid limited supply and emerging demand from countries targeting nuclear energy to help meet net-zero targets in the coming years.
  • Other commodities have not fared as well this year with Thermal Coal -11%, Iron Ore more than -7%, and Copper -3%. Let’s not mention the Lithium price.
  • This weakness in commodities combined with supply chain issues with DP World Ports have affected our market with the S&P/ASX 200 down at 7,387 as I type.
  • The Aussie dollar has retreated on news the Fed may delay rate cuts – it’s now at a one month low of $US .661.
  • REIWA reported that listings for sale across Perth fell to a record low of 3,648 at the end of December. That’s 23.4% lower than November and 49% lower than December 2022.
  • As at today, there are only 3,792 listings for sale (1,941 homes, 1,058 units and 793 blocks of land).
  • So, it’s a seller’s market! Call me today for a thoroughly personalised plan to get you the very best price for your home or investment property.
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