Sell with Confidence
Read More
News

Bi Monthly Market Update | Sale and Rental markets are in short supply!

By Jody Fewster

Sale and Rental markets are in short supply!

• The IMF are forecasting GDP growth next year of 6-7% for Australia after a fall of 6% in 2020. Optimistically, I am focussed on the recovery.

• Between the US oil market troubles (storage capacity shortages/costs leading to holders of futures contract being forced to sell), Virgin being put into administration and the RBA announcing they expected output to drop by 10%, our market struggled yesterday losing 2.5% for the second day in a row with the S&P ASX-200 closing at 5,221.3.

• After a roller coaster start to the year, the ASX-200 is now down 21.8% year to date. The Aussie dollar is at US 62.84 c.

• COVID-19 restrictions could begin to be lessened towards the middle of the year leading to an economic bounce back in the September quarter.

• Good news with the ANZ Consumer Confidence Survey showing consumer confidence has climbed for the third straight week. It’s now 30% above the historic low of the last weekend of March.

• More good news for WA in that iron ore prices have remained resilient with China showing a continued pick up in steel production.

• REIWA figures show there are 5% less properties listed for sale than 4 weeks ago which is 28% lower than levels seen a year ago. The rental market is similarly tight. Limited supply is good support for prices.

• Buyers are complaining to me about a lack of choice.

• Call me to see where your home fits in today’s market.

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.

Up to Date

Latest News

  • Bi Monthly Market Update | Equities running hot…

    Equities running hot… Markets rallied hard yesterday after good news regarding vaccines plus the Government announced an extension to the JobKeeper/JobSeeker wage subsidies. The S&P ASX-200 closed up 2.6% at 6156.3 (only 14% off its all-time record). Gold remains above US$ 1,800/oz, Iron Ore is at US$ 111 a tonne, … Read more

    Read Full Post

  • Bi Monthly Market Update | What a year!

    What a year! After a 1.4% rebound yesterday, the S&P ASX-200 ended the financial year down only 10.9%. Although it was the worst year since 2012, it was saved by a great June quarter which is giving analysts hope for a positive start to the new year with higher returns forecast than … Read more

    Read Full Post