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Bi Monthly Market Update | Budget windfalls off the back of soaring commodities…

By Drew Dwyer

Budget windfalls off the back of soaring commodities…

  • Last week the RBA kept interest rates on hold whilst revising forecasts for economic activity that were reflected in last night’s Budget.
  • The Budget has shown that economic growth is stronger, commodity prices are higher and unemployment significantly lower than anticipated back in October. Real GDP is now forecast to be 4.5% for 21/22.
  • The Budget target is no longer about Surplus but about lowering the unemployment rate to sub 5% with forecasts of 4.75% by June 2023.
    WA is still leading the way at 4.8%.
  • Good news for Downsizers with the Budget announcement lowering the age from 65 to 60 for those selling their family home to get the $300,000 Super contribution.
  • After hitting a new all-time high of $US 230.56/t, Iron Ore came back to $US 212.75/t. Copper is also at a record price of $US 10,232/t. The Aussie dollar remains at $US .78c.
  • After hitting a new all-time high on Mondaythe S&P ASX 200 is trading down at 7,039 as inflation fears and a little fatigue creep into the market.
  • Net positive interstate migration continues to feed demand for our homes and there’s evidence that investors are finally returning.
  • Demand continues to outstrip supply for houses so call me to fully understand the significance for your home.

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. Please click here to read some of my testimonials.
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