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Bi Monthly Market Update | Real Estate Institute calls bottom of market

By Jody Fewster

Real Estate Institute calls bottom of market

  • After hitting record highs last week our market fell 2.2 % yesterday amid a new trade war battle between the US and Brazil and Argentina. The S&P ASX 200 is trading at 6,612 as I type.
  • As expected the RBA kept interest rates on hold at their record low of 0.75% while they watch to see if consumer spending improves over the Christmas period.
  • Australia has recorded is second consecutive current account surplus for the first time in 46 years.
  • All eyes are on tomorrow’s GDP figures which are expected to show a 1.7% year on year gain. This would be a rise but still below the RBA’s target of 2.6% for mid-2020.
  • Corelogic has revealed parts of Sydney have climbed as much as 9.3 % over the last three months. The Real Estate Institute of WA has predicted we have seen the bottom of our market with the 0.4% uptick in median prices in November.
  • This morning’s Financial Review quoted my recent sale at 8A Mosman Terrace, Mosman Park as a benchmark for land values in the area.
  • With Christmas fast approaching we are still receiving requests for marketing plans for the new year.
  • Call me for your plan to get 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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