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Bi Monthly Market Update | The market is tightening up…

By Jody Fewster

The market is tightening up…
Year on Year Listings -20.8%, buyer enquiry on the internet +10%. 

  • The extent of safe haven activity was on display as “long positions” in Gold futures and options jumped 22% in the week to February 18. That’s the biggest “long” gold position in data going back to 2006. The Australian $ gold price is a record high of $2,513 an ounce.
  • After closing at a record high of 7,162.5 last Thursday, the S&P ASX-200 is now trading at 6,738.5 as I type. We are still above our December close and nowhere near being considered “cheap”.
  • The Aussie dollar is steady at a 11-year low of $US .66 which will help our currently struggling tourism operators.
  • All eyes are on the RBA when they meet next Tuesday. Given expectations of lower earnings and growth, most economists are predicting a rate cut by August.
  • The number of properties listed for sale in all of Perth is at 12,642 with houses accounting for only 7,098 of these.
  • We are seeing better numbers at home opens across the board and there is a real sentiment from buyers and industry commentators alike that positive change is afoot.
  • Having sold three homes in the last 9 days, one before auction and one under the hammer, I’m looking for homes for my extensive buyer database. Call me to see your home is a match
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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