October Market UpdateOctober 8, 2013
October Market Update
Enclosed is the October 2013 edition of Market Update.
Last month global economic data continued to show signs of improvement, with Europe, Japan and China in particular continuing to gain traction.
In the US, the property sector showed further signs of recovery, while consumer confidence fell slightly following the uncertainties in Syria.
On the home front, the Liberal National Party formed the new Federal Government, and is expected to provide greater business confidence through its policy settings.
Australian residential property continued to experience above average clearance rates. According to RP data, capital city home values have seen an average increase of 6.5% in 2013, with Sydney and Melbourne being the standouts.
As markets continue to remain uncertain in the short term, please remember to remain focused on your long-term goals.
If you’d like to discuss anything in this report please contact Alison Foenander.