Happy Financial Year - Again!
The Australian Stock market produced another bumper return for the 2006/07 financial year. The All Ords price index was up 24.8% for the year. This follows increases of 19.0% in 2005/06, 19.8% in 2004/05 and 17.7% in 2003/04. The annual average increase back to our first records of Australian stocks in 1875, is 5.5%pa.
Generation Y is starting their working life thinking that the stock market always goes up 20% each year, jobs are plentiful and inflation never gets above 3%pa. But they are also believing that they may never get to buy a house in Sydney with average house prices at 10 times average annual wages now compared to 5 times when their parents were house hunting. Check out our Miscellaneous Charts in the Research Centre.
Posted Saturday, 30 June 2007
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