Commodities tumbling

Now down more than a quarter since the peak of  June 2010.

Not good news for Australia and increases the likelihood of a further rate cut in the coming few months.

In brighter news, our manufacturing index picked up sharply today.

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Productivity crisis...

...in the Blogging sector.

All been a bit light on blogs this week, I'm aware.

In my defence, I'm on a tropical south-east Asian island with a large coral reef, so there are better things to be doing than droning on about share prices and the like.

Fear not, though, as I'm flying out tomorrow and will return afresh with a barrage of new content in due course.

Aussie dollar has staged something of a fightback while I've been out snorkelling, helped no doubt by the better-than expected jobs data - back above 96 cents, though we'll see for how long.

Better day ahead for stocks (overdue!) and...surprise, surprise, property values are 'moving up' again.

I'm not sure they were ever going down really...just the index correcting itself after overcooking the gains in Q1. Sydney and Perth markets looking very strong indeed at the moment.

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Homebuyer confidence at its highest level for 6 years

Genworth released its Homebuyer confidence index for July, showing the gauge at its highest level for 6 years.

The index increased by more than 7% from 93.4 to 100.1

The main driver of the increase was the state of New South Wales, although in fact confidence increased across every state.

Given how the index is measured, the combination of increasing prices and lower interest rates mean that it is unsurprising to see the gauge moving up strongly.

Source: Residex

Meanwhile, Residex reports that Sydney's property market is at its strongest in 20 years, with house prices increasing by 7.37% over the past 12 months.

Residex CEO John Edwards noted the auction clearance rates moving above 80% as another indicator of the strength of Sydney's property markets.

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Banks rally

Westpac...



Source: ASX

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Mortgages for 4.69%?

HSBC has dropped its fixed rate home loans as follows:

2 year fixed - 4.69%
3 year fixed - 4.79%
5 year fixed -  5.09%

The major Aussie banks are also offering very low fixed rates now as the competition for market share hots up.

Shares finally seeing a brighter trade up ~1.60% so far, with they bank stocks rebounding...

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Stocks keep on

A little knock for the bank stocks today due to talk of a proposed deposit insurance levy.

Still, it's been quite  a past month for the Aussie stock market, with valuations gaining around 5%.



Source: ASX

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Sydney 81.4% auction clearance rate

Solid enough result for Melbourne today, recording a 69% auction clearance rate according to APM (REIV recorded 70% from their sample).

That's just about par for the course for the softer winter months.

On the other hand, the Sydney market is absolutely flying recording another very high clearance rate of 81.4% per APM.

The median sale price on the day was more than $800,000. 

With properties selling so quickly in Sydney, prices will very likely continue to rise to new heights in the coming months.

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Insta Raised Queen Bed with Never Flat Pump

Features

• Inflated Dimensions: 78" x 60" x 19"
• Patented, powerful internal NeverFlat AC pump inflates and deflates bed quickly.
• Customizable firmness selection.
• Raised height makes getting into and out of bed easier.
• Carry Bag Included

List Price: $169.99
Special Offer: check this out!

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• Queen Airbed Fitted Cover / Sleeping Bag

Product Description
The Insta-Bed Raised Air Bed with Never Flat technology makes getting into and out of bed easier and just might be the most comfortable air bed you've ever slept on. Able to maintain it's pressure throughout the night, Never Flat elimates sagging and loss of air pressure that is so common in airbeds. Never Flat technology is an auto-engaging, whisper quiet pump that maintains constant air pressure throughout the night for an undisturbed, continuous night's rest that is never flat. Choose your desired comfort level--Plush, Medium, or Firm--and let the powerful Primary Pump inflate the bed. Once inflated, the Secondary Pump continusly monitors and senses when it needs to silently engage in order to maintain the chosen comfort level throughout the night. *The powerful, integrated primary pump enables effortless inflation and deflation of the air bed. *The automatic shut-off feature turns the Primary Pump once the bed is fully inflated or deflated, allowing you to turn on the pump and walk away without worrying about the pump getted burned out. *Clear dial settings for plush, medium, and firm allow for preferred personal mattress comfort levels. *Pressure sensing technology constantly monitors and adjusts to match the chosen mattress comfort level. *Pump silently, as neccessary, engages throughout the night creating a consistently comfortable feel. *21 circular coils on the Twin Bed and 35 circular coils on the Queen Bed create a comfortable sleeping surface while vertical and horizontal reinforcements allow bed to maintain shape. *Flocked top keeps bedding in place. *Carry bag included. Guaranteed to stay inflated all night!

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