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Bi Monthly Market Update | Stamp duty relief….for some

By Jody Fewster

Stamp duty relief….for some

  • There appear to be some positives in the US-China trade talks, although there’s still significant uncertainty around Boris Johnson’s latest Brexit dilemma.
  • Our equity market is looking expensive trading at 16.5 times forecast earnings and industrial stocks at 24 times or 30% above the all-time averages. Hence a number of IPO’s have been pulled as fund managers fail to see private equity valuations.
  • The S&P ASX 200 closed at 6693.6 which is only 182 points off its July 30 all-time high of 6875 points. The Aussie dollar is buying $US .685.
  • Our record low-interest rates of 0.75% are now expected to remain steady as more economists have backed away from their previous forecast of another rate cut on Melbourne Cup Day.
  • Welcome news for buyers and developers alike as the State government announced a rebate (75% off up to $50,000) on Stamp Duty for off-the-plan apartments – effective immediately.
  • Earlier this week I had the privilege of spending time with Ray White’s Elite Performers and I now know how the best performers increase the sales prices of their clients’ homes through competition and extensive and creative print media and digital marketing strategies.
  • The power of the Ray White Public Relations team was in full swing this week with one of my properties getting the front cover of Domain magazine which goes into 293,000 copies of the Financial Review each Wednesday.
  • Call me for a plan to get your property noticed.
Authored by Jody Fewster | 0414 688 988
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