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Bi Monthly Market Update | A super day for the Super Pit…

By Jody Fewster

A super day for the Super Pit…

  • Our market was up yesterday thanks to the merger of Northern Star Resources and Saracen Minerals, making it a $16b gold giant ranked 6th in the world. It makes me immensely proud to be a West Aussie – thank you Raleigh and Bill.
  • After a shocking September (down 4.04%), the S&P ASX- 200 is up at 6,028.5 as I type. The Aussie dollar is trading at $US .71c.
  • As expected the RBA kept rates on hold, but the Minutes suggest a cut is coming on Cup Day in November.
  • With all the news in the Federal Budget, there is little directly impacting the property market. A boost for an additional 10,000 first home buyers. Most impactful may just be the forecast of a net overseas migration of 100,000.
  • Once again, Iron Ore may come to the Deficit’s rescue with the budget forecast at $US 55/t and current trades are at $US121/t.
  • All eyes are on the State Budget out tomorrow in which the Treasurer Ben Wyatt will announce a Surplus on the back of Iron Ore royalties and exports to China.
  • There were 878 property sales across Perth last week, a 90% jump from the same week last year. Sales are up but stock levels are still low!!!
  • We are very proud that our office was Number 1 in the Ray White Network for the month of September.
  • Call me for a comprehensive plan to get you on the move.

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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