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Bi Monthly Market Update | Industry leader predicts 6% growth in 2020!

By Simone Raszyk

Industry leader predicts 6% growth in 2020!

  • There is heightened anxiety about the economic impacts of the bushfires in Australia, and coronavirus on industrial growth in China (China constitutes 20% of Global GDP).  The hope is that they will be short-lived.
  • Although markets were up slightly yesterday, commodities have been particularly hard hit with crude oil below $50/barrel on Monday – the first time in a year (down 18% in 2020), Dr. Copper down 11% and the Iron Ore price now at $US83.76 a tonne.
  • S&P ASX 200 is trying to get back above 7,000 – so close at 6,968 as I type.
  • As expected, yesterday the RBA kept rates on hold at .75%. The level of optimism surprised some as the growth rate was kept at 2.75% for this year.  An April rate cut is still on the cards.
  • The Aussie dollar was up slightly to US .67c
  • The outlook is optimistic for US reporting season which should bolster our markets.
  • I can’t help thinking that our low dollar, low-density population, clean air, relative political stability, and our beautiful western suburbs will be more in demand as a result of recent world events.
  • With a 0.1% increase in house prices over January, Corelogic is now predicting a 6% rise in Perth houses this year.
  • With green shoots in the market place call me for a strategy 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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