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Bi Monthly Market Update | March sees Perth sales hit a 12 year high!!!

By Katy O'Shea

March sees Perth sales hit a 12 year high!!!

  • As expected, the RBA left the cash rate on hold whilst being very positive about  the employment rate, which is trending to below 4%. Now watch carefully for the March quarter inflation numbers and May wage cost data coming soon.
  • With the Federal Election looking like mid to late May, June is firming as the date most economists predict the RBA to raise rates.
  • The S&P ASX 200 closed at 7527.9 and the Aussie dollar is near a 10 month high at $US .76 c.
  • Alan Kohler showed another really cool chart on Monday – he compared the ratio of house prices to income over the last 40 years for ‘Australia’ against the ‘rest of the world’. Australian house prices have more than doubled as a percentage of income over the last 40 years.
  • Top-end prices on the East Coast are leading that recent market downturn with suburbs such as Surrey Hills down 6% and South Yarra down 5% in the last quarter.
  • Perth sales volumes reached the highest level in 12 years during March. REIWA stats show an average of 1078 sales/week.
  • Perth prices grew 1.9% in the first three months of the year and we remain the most affordable housing market in the country.
  • Call me now to see if your home is the perfect match for those East Coast buyers just working this out.
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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