The Australian dollar is up against a falling greenback, as markets react to no mention of specific tariff increases in Donald Trump’s inauguration speech.
Data from REA Group shows new real estate listings surged in 2024, as property price growth slowed.
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Key Events
Market snapshot
- ASX 200 futures: +0.3% to 8,355 points
- Australian dollar: +1.3% to 62.7 US cents
- Wall Street: closed
- Europe: DAX +0.4%, FTSE +0.2%, Eurostoxx +0.1%
- Spot gold: +0.3% to $US2,708/ounce
- Brent crude: -1.2% to $US79.85
- Iron ore: +0.8% to $US104.70 a tonne
- Bitcoin: -0.9% to $US103,746
Prices current around 8:10am AEDT
New listings surged in 2024 despite quiet December: REA Group
New real estate listings were 7.9 per cent higher in 2024, compared to the year before.
The overall surge came despite a seasonal slowdown in December.
That’s according to the latest data from REA Group, which reveals 2024 was the highest year for new listings since 2021 prior to 2021, the highest since 2017.
“The strength of new listings in 2024 gave buyers far more choice than they’ve had in recent years,” REA’s director of economic research Cameron Kusher said.
“The increase in properties available for sale has meant buyers have had more options and afforded them more time to make a purchase decision, which has led to an increase in days on market in recent months.”
Mr Kusher expects property price growth to continue to moderate this year.
Australian dollar up on inauguration day
Good morning — Steph Chalmers here to bring you through the morning on markets.
While Wall Street was closed for the Martin Luther King Jr. Day holiday, there was not lack of action in the US, withDonald Trump sworn in as the 47th American president.
The US dollar fell overnight, before Donald Trump spoke in fact.
The catalyst was a report from the Wall Street Journal, detailing that Trump will stop short of imposing sweeping new tariffs on his first day in office.
The president did however mention his intention to create the External Revenue Service to collect tariffs and other duties from foreign sources — so watch this space.
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