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Bi Monthly Market Update | Buyers are out and about…

By Jody Fewster

Buyers are out and about…

•  Markets continue to be volatile with the S&P ASX 200 down as I type at 5,369 after closing up yesterday for the second straight day.
•  As expected the RBA kept rates on hold yesterday and the Governor was quite upbeat about our capacity as a nation to recover from lockdowns. All eyes are on Friday’s National Cabinet Meeting announcements re further easing of restrictions for businesses. The Aussie dollar is at US$ .645
•  The latest REIWA stats show there are 11,638 properties listed for sale in Perth. The last time the number was this low was back in March 2014.  There is no evidence of distressed selling.
•  The rental vacancy rate is 2.2%.
•  Another positive is that medium house prices rose for the 6th straight months in a row in April. And days on market are falling with the median sitting at 65 days compared to 77.
•  I was going to remind everyone to check their gutters before more heavy rains kick in. After last night’s storms, gutters are sure to be overflowing.
•  Our office had an amazing past week – 14 home opens, 110 buyers through, and 4 offers written.
•  You don’t need to wait for Spring, call me for a plan to get you moving.

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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