Thursday 2 December 2010

Net Worth Update: November 2010

The stock market didn't do so well this month, what with Ireland going broke, North Korea going (more) insane, and locally the Reserve Bank raising interest rates only to find that the economy had practically ground to a halt in the last quarter (0.2% GDP growth). However our property valuations rose a bit during the month, so my overall net worth figure hardly declined. With the economy slowing down, unemployment rising slightly (although still at almost 'full' employment) and interest rates rising at a time household debt is at an all-time high, I don't expect Sydney real estate prices to rise in 2011 or 2012. Most likely prices will remain close to current levels, which will result in a small (5%-10%) drop in real prices over that period.

Assets___________$ Amount______$ Diff_____% Diff 
Stocks_*__________$16,491_____-$7,486______n/a % 
Retirement_______$347,568_____-$1,261____-0.36 % 
Properties_______$942,757______$4,815_____0.51 % 

Debts____________$ Amount_____$ Diff_____% Diff 
Home Mortgage(s)_$363,441________-$81____-0.02 % 

Net Worth________$943,376_____-$3,851____-0.41 %

* the Stocks figure is portfolio value - margin loans. As my portfolio value (and margin loan debt) is around $500,000 relatively small movements in the stock market produce huge percentage swings in the net value of my stock portfolio each month.

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