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Bi Monthly Market Update | Perth house prices still growing..

•By Katy O'Shea

Perth house prices still growing…

  • Inflation figures out today showed CPI grew 2.1% in the March quarter and 1.8% in the June quarter with the annual figure coming in at 6.1% to June. With the rate of increase falling some are now calling inflation has peaked.
  • The RBA is still expected to raise the cash rate by 50 basis points at their next meeting and all eyes are on the Federal Reserve to see what they do next week.
  • The S&P ASX-200 closed up today at 6827.0 and the Aussie dollar fell on the CPI news – now at $US .694c
  • Walmart, a bellwether for US consumption (a key driver of economic growth) surprised markets with a cut to its profit forecast. On the plus side for reporting season 75% of US companies have reported profits higher than expected.
  • Perth CBD retail vacancy hits record highs of 20.6%.
  • The Australian is reporting housing prices across the nation are set to fall by as much as 15% by the end of 2023. The correction follows a 34% increase in housing values from February 2020 to June. Perth is the stand-out which is still growing.
  • With school holidays over, it’s time to think on your next move. So, call me for a confidential discussion on where to next!
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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