Today's Business Headlines

Seven buyback could boost Stokes' stake; Rates relief gives market a ray of hope; Port boost for iron ore juniors; Cape Lambert sale set for last-minute close; AWE wins prize as Arc boss gets booty


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WE NEED TO BE EXTREMELY CAREFUL HOW WE REACT TO SHOCK HEADLINES!!! Lets look at the facts…headlines sell newspapers and the more shocking the HEADLINE the more sales! Recent announcements on the complete collapse of Perth property prices need to be kept strictly in context when we consider the actual facts of our unique market and economy! FIGURES CONTRADICTED Some of the leading property related organisation that are based in Western Australia rather than in the Eastern States, strongly disagree with the shock property headlines and expect a significantly more stable property environment in Western Australia! WHY THEY DISAGREE THE FACTS! OUR ECOMOMY ROLLS ON Leading economists do not expect to see an end to WA’s 16 years of continuous economic growth* EMPLOYMENT The lowest Unemployment in Thirty Four Years! An Unprecedented 2.8% IN WA* RATE CUT LIKELY Analyst’s are tipping a significant rate cut could happen as early as next month. OUR POPULATION IS GROWING Western Australia continues to record the largest percentage population gain of any State or Territory in Australia while long term house supply falls! WE ARE NOT BUILDING ENOUGH NEW HOMES Following a plunge in May, building approvals have weakened further in June to its lowest level since the end of 2006. On a seasonally adjusted basis, total building approvals fell by 0.7% in June following a drop of 7.8% in May. The number of detached house approvals decreased by 0.8% and approvals for the more volatile multi-unit segment eased by 0.5% following a 20% slump the previous month. According to HIA chief economist, Harley Dale, the June update confirmed a seventh consecutive trend decline for building approvals, thereby signaling a weakening in residential construction over the second half of 2008. AIRPORT ADMITS $1BN UPGRADE NOT ENOUGH Passenger traffic through Perth Airport has more than doubled since 2001-02, while airfield movements associated with the resources sector have doubled since 2005. *(Information drawn form ANZ projections current May 2008) WE NEED TO CAREFULLY CONSIDER THE FACTS AND DECIDE FOR OURSELVES!

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