The year in review: The Australian share market is a tale of two halves
Kanebridge News
    HOUSE MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $1,623,020 (+0.08%)       Melbourne $974,710 (-0.81%)       Brisbane $992,583 (-1.37%)       Adelaide $896,270 (+0.26%)       Perth $892,481 (+0.31%)       Hobart $726,595 (-0.35%)       Darwin $664,958 (+1.76%)       Canberra $1,012,150 (+0.04%)       National $1,048,965 (-0.14%)                UNIT MEDIAN ASKING PRICES AND WEEKLY CHANGE     Sydney $751,258 (-0.23%)       Melbourne $495,378 (+0.24%)       Brisbane $583,696 (-1.32%)       Adelaide $453,443 (-0.76%)       Perth $458,999 (+2.21%)       Hobart $509,191 (+0.99%)       Darwin $362,436 (+1.68%)       Canberra $497,643 (+0.69%)       National $536,245 (+0.06%)                HOUSES FOR SALE AND WEEKLY CHANGE     Sydney 9,903 (-109)       Melbourne 14,181 (+71)       Brisbane 8,075 (-54)       Adelaide 2,184 (+36)       Perth 5,723 (+16)       Hobart 1,216 (+3)       Darwin 275 (+14)       Canberra 888 (+5)       National 42,445 (-18)                UNITS FOR SALE AND WEEKLY CHANGE     Sydney 8,719 (+28)       Melbourne 8,357 (+7)       Brisbane 1,747 (+49)       Adelaide 405 (+23)       Perth 1,442 (+5)       Hobart 211 (-1)       Darwin 399 (-7)       Canberra 1,018 (+16)       National 22,298 (+120)                HOUSE MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $800 (-$20)       Melbourne $620 ($0)       Brisbane $635 (-$5)       Adelaide $610 (-$10)       Perth $675 (-$20)       Hobart $550 ($0)       Darwin $700 (-$30)       Canberra $680 ($0)       National $666 (-$12)                UNIT MEDIAN ASKING RENTS AND WEEKLY CHANGE     Sydney $750 ($0)       Melbourne $595 ($0)       Brisbane $625 (-$5)       Adelaide $510 (+$10)       Perth $630 (+$5)       Hobart $470 (+$5)       Darwin $560 (+$30)       Canberra $550 ($0)       National $597 (+$4)                HOUSES FOR RENT AND WEEKLY CHANGE     Sydney 5,884 (-132)       Melbourne 6,585 (+256)       Brisbane 4,488 (+137)       Adelaide 1,589 (+2)       Perth 2,880 (+283)       Hobart 411 (+13)       Darwin 93 (-4)       Canberra 632 (+17)       National 22,562 (+572)                UNITS FOR RENT AND WEEKLY CHANGE     Sydney 10,906 (+381)       Melbourne 6,312 (+294)       Brisbane 2,339 (+54)       Adelaide 371 (+21)       Perth 797 (+18)       Hobart 143 (+3)       Darwin 126 (+3)       Canberra 816 (+23)       National 21,810 (+797)                HOUSE ANNUAL GROSS YIELDS AND TREND         Sydney 2.56% (↓)     Melbourne 3.31% (↑)      Brisbane 3.33% (↑)        Adelaide 3.54% (↓)       Perth 3.93% (↓)     Hobart 3.94% (↑)        Darwin 5.47% (↓)       Canberra 3.49% (↓)       National 3.30% (↓)            UNIT ANNUAL GROSS YIELDS AND TREND       Sydney 5.19% (↑)        Melbourne 6.25% (↓)     Brisbane 5.57% (↑)      Adelaide 5.85% (↑)        Perth 7.14% (↓)     Hobart 4.80% (↑)      Darwin 8.03% (↑)        Canberra 5.75% (↓)     National 5.79% (↑)             HOUSE RENTAL VACANCY RATES AND TREND       Sydney 0.8% (↑)      Melbourne 0.7% (↑)      Brisbane 0.7% (↑)      Adelaide 0.4% (↑)      Perth 0.4% (↑)      Hobart 0.9% (↑)      Darwin 0.8% (↑)      Canberra 1.0% (↑)      National 0.7% (↑)             UNIT RENTAL VACANCY RATES AND TREND       Sydney 0.9% (↑)      Melbourne 1.1% (↑)      Brisbane 1.0% (↑)      Adelaide 0.5% (↑)      Perth 0.5% (↑)      Hobart 1.4% (↑)      Darwin 1.7% (↑)      Canberra 1.4% (↑)      National 1.1% (↑)             AVERAGE DAYS TO SELL HOUSES AND TREND       Sydney 29.8 (↑)        Melbourne 31.6 (↓)     Brisbane 30.4 (↑)        Adelaide 25.3 (↓)       Perth 35.7 (↓)     Hobart 33.0 (↑)      Darwin 43.9 (↑)      Canberra 31.9 (↑)      National 32.7 (↑)             AVERAGE DAYS TO SELL UNITS AND TREND       Sydney 30.2 (↑)      Melbourne 31.7 (↑)        Brisbane 27.1 (↓)       Adelaide 25.5 (↓)     Perth 37.5 (↑)        Hobart 38.0 (↓)       Darwin 37.9 (↓)     Canberra 41.2 (↑)        National 33.6 (↓)           
Share Button

The year in review: The Australian share market is a tale of two halves

As the financial year comes to a close, the ASX closes on a positive note

By Bronwyn Allen
Fri, Jun 28, 2024 11:19amGrey Clock 2 min

The benchmark index of the Australian share market, the ASX 200, is up by 7.72 percent at 7,759.6 points in the financial year-to-date as the final day of trading gets underway. Following a positive trading session on Wall Street overnight, the ASX 200 was expected to open higher today.

FY24 has been a tale of two halves, with the ASX 200 drifting down from July to October and hitting a 52-week low of 6,751.3 points on 30 October. A rally began in November as speculation of interest rate cuts in the United States and Australia began following substantial falls in inflation and growing excitement over artificial intelligence and its potential to meaningfully raise productivity worldwide.

The ASX 200 ascended to an all-time high of 7,910.5 points in April, following new records also set in the United States for the S&P 500 and NASDAQ Composite indexes at the time (these US market records have since been superseded). The S&P 500 and NASDAQ Composite have outperformed the Australian share market by more than 3:1 in FY24. The S&P 500 is up 23.2 percent and the NASDAQ is up 29.5 percent in the financial year-to-date.

Powering the NASDAQ’s performance has been the ‘Magnificent Seven’ stocks of Alphabet, Amazon, Meta Platforms, Apple, Nvidia, Microsoft, and Tesla. Nvidia is the leader of the pack for share price growth, having revolutionised the global IT industry with its graphics processing units (GPUs) that accelerate computing and have become essential in supporting artificial intelligence. Its GPU chips power programs like ChatGPT. Nvidia stock is up 193 percent in FY24 due to sensational earnings growth.

On the ASX 200, the stocks that have risen the most over FY24 are cancer radiopharmaceutical company Clarity Pharmaceuticals (up 624 percent), buy now, pay later provider Zip Co (up 265 percent), social networking app developer Life360 (up 113 percent), medical imaging software developer Pro Medicus (up 113 percent) and gold miner Red 5 (up 95 percent).

All of the ASX 200 bank shares except Bank of Queensland hit multi-year high share prices in FY24, with National Australia Bank leading the pack with a 37 percent gain. Top broker Goldman Sachs has described Australian banks as the most expensive bank stocks in the world and “in uncharted valuation territory at today’s share prices. This week, the Commonwealth Bank came very close to overtaking mining behemoth BHP as Australia’s most valuable company by market capitalisation, after reaching a 52-week high of $128.68per share on Tuesday.



MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Money
After Pandemic Slowdown, Global Wealth Is Growing Once Again, Led by the U.S.
By GEOFF NUDELMAN 14/07/2024
Money
The One-Child Policy Supercharged China’s Economic Miracle. Now It’s Paying the Price.
By LIYAN QI 13/07/2024
Money
Economist Shane Oliver’s advice for investors: follow these simple rules for optimum results
By Bronwyn Allen 12/07/2024
After Pandemic Slowdown, Global Wealth Is Growing Once Again, Led by the U.S.
By GEOFF NUDELMAN
Sun, Jul 14, 2024 2 min

The latest edition of an annual UBS wealth report notes that while “the global economy is in the midst of a dramatic structural upheaval,” wealth is growing once again after a downturn through the pandemic.

UBS analyzed income and wealth data from 56 markets, representing “92% of the world’s wealth,” in its Global Wealth Report 2024, released Wednesday. The report’s overarching theme found that global wealth grew by 4.2% in 2023, offsetting a loss of 3% in 2022. Even in the face of continued inflation, adjusted global wealth grew by 8.4%.

However, overall global wealth growth is down, from an annual average of 7% between 2000 and 2010 to just over 4.5% between 2010 and 2023, the report said. This equates to a reduction in global wealth of almost one-third.

The remaining growth seems to be continuing on pace in the world’s most developed and already prosperous nations. In the U.S., average wealth per adult grew by nearly 2.5% and the country accounts for 38%, roughly 22 million, of all millionaires worldwide.

Mainland China came in second with just over 6 million millionaires, followed by 3 million  in the U.K.

The report also took a look at the growing issue of wealth transfer. Over the next 25 years, US$83.5 trillion of global wealth will be transferred to spouses and the next generation. UBS estimates 10% of that will be transferred by women and US$9 trillion will shift between spouses.

Wealth in the Asia-Pacific region grew the most—nearly 177%—since the report began tracking data 15 years ago. The Americas come in second, at nearly 146% growth. Surprisingly, Turkey has enjoyed the most wealth growth per adult of any individual nation in the last 15 years—more than 1,700% in local currency.

The world’s wealthiest class continues to be a small, tightly concentrated group. According to the report, only 12 people hold between US$50 billion and US$100 billion and just 14 people hold US$2 trillion of the world’s wealth. The U.S. and Canada are home to individuals holding 44% of this wealth, while another 25% is held by people in Western Europe.

UBS data suggests that global wealth will continue to grow most in emerging markets, with some countries experiencing millionaire growth of up to 50% over the next five years.

MOST POPULAR
11 ACRES ROAD, KELLYVILLE, NSW

This stylish family home combines a classic palette and finishes with a flexible floorplan

35 North Street Windsor

Just 55 minutes from Sydney, make this your creative getaway located in the majestic Hawkesbury region.

Related Stories
Lifestyle
A ‘cheeky’ seat takes out the top prize at Australia’s Next Top Designers Awards
By KANEBRIDGE NEWS 17/06/2024
Lifestyle
Sparkling wine flows as Australian winemaker takes out top international award
By Robyn Willis 11/07/2024
Money
Finding LGBTQ-Focused Investments Can Be Difficult. Here’s Where to Begin.
By ROB CSERNYIK 26/06/2024
0
    Your Cart
    Your cart is emptyReturn to Shop