A welcome from CEO Dr Viberto Selochan
May 20, 2009
Welcome to the inaugural edition of First News.
The past year and a half has been turbulent in the Australian marketplace as the flow-on effect from the credit crunch trickles into Australia. Despite this, Australia’s housing sector is holding up relatively well, particularly in outer suburbs, with the First Home Owners Boost and interest rates combining to place a floor under demand. Notably, housing loans have begun rising again but the sector is still fragile - particularly in wealthy suburbs, with the length and depth of the global recession to play a large role in dictating the immediate future of the sector.
Business finance, on the other hand, has taken a hit, with companies keen to cutback on investment as debt becomes a threat to even the soundest business. The Government has introduced a tax break on capital investment for small business in a bid to breathe life into the business sector.
Where the market is heading remains uncertain, but there are promising signs that by the end of the year the worst will be well and truly behind us.
It is an exciting time for our business and we look forward to bringing you First News on a bi-weekly basis. It will provide an overview of major news relating to the housing and business finance sectors. We hope it will assist you in understanding where the market is at and where it is likely to head in the months ahead.
Please feel free to forward this on to any clients you believe will have an interest. They are welcome to get First News direct by signing up at www.firstcharteredcapital.com.au/first-net/first-news/.
Yours sincerely,
Dr Viberto Selochan
Chief Executive Officer, First Chartered Capital