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Bi Monthly Market Update | It’s all about Supply… or lack thereof!

By Jody Fewster

It’s all about Supply… or lack thereof!

  • There’s been little action on markets with the S&P ASX-200 at 6,778.8 and the Aussie down at $US .769.
  • The latest figures on the national unemployment rate are a positive surprise at 5.8%.
  • With housing approvals up 131.9% compared with the same time last year, trade delays, rising costs of materialsand shortages of specialist labour are hitting home builders.
  • House prices in Sydney and Melbourne are reaching record highs with Sydney alone rising 1% a week.
  • REIWA President Damian Collins said, “Perth prices are down 20% compared to five years ago and we will make that up within 2 years”. He also predicts it will take 18 months for a balance to return to our market with the supply of residential housing the tightest in a decade.
  • The moratorium on rent increases ends Sunday, March 28 and most predictions are for a 20% rise in rents.
  • The combination of the rental shortage and rises in property prices will encourage investors back into the market.
  • So, have a happy and safe Easter next week.
  • It’s time to call me for your personalised plan to maximise the competition vying 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.
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