Many sophisticated investors woke up today to a huge correction to their portfolios. I woke up to a string of calls from people wanting advice on properties that would give their portfolios some stability. It seems the news from the overnight share market is causing people to look at ‘touch and feel’ investments as a safer option. With rents (yields) on the rise and the drive of first home buyers into the market, this morning sparked a positive spin on the overnight events.
Last month delivered us just over $11 million in unconditional sales, the surprising fact was the huge amount of FHB (first home buyers) sales that were made. We closed approx. 20 contracts with FHB, with unemployment still low and interest rates holding we expect it will be the FHB’s leading the charge.
On a personal note I’m off to view the American market first hand next week. Ill keep you posted of my finds over the next few weeks.