Do you think Australia's share market is booming.
Well think again!
Sure Australias sharemarket has finished the 2020-21 financial year on a high, with the All Ords reporting a record year of growth — up by 25.6%
This strong sharemarket recovery over the past year reflects the resilience of the Australian economy that has been a world leader in post-COVID recovery.
But Australia’s share market performance over the past year was significantly below that reported by leading world economies.
US shares increased by 34.1% over the year with the Japanese sharemarket up by 30.3%.
UK share performance was however lower, with an annual increase of 14.3%.
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Just look how these various markets have performed since the GFC
Australian shares have been poor performers since the pre-GFC peak, increasing by just 11.4% since the end of 2007 compared to Japan shares up 65.5% and the US higher by a remarkable 143.6% over the same period.
And growth in Australian shares has also been significantly behind increases in house prices over that period with Sydney up by 137.8% and Melbourne higher by 114.2%.
Property vs shares?????