Wednesday 2 November 2022

Net Worth: OCT 2022

My monthly NW estimate has been updated in NetWorthShare for the end of October. Chart is in the side-bar.

Stocks and managed fund investments recovered some of the recent falls during the past month. My 'Stocks' figure was up $4,291 (1.62%) to $269,582 net equity.

The value of my 'Other Assets' category (gold and silver proof coin collection, valued at bullion value only, Perth Mint unallocated gold, silver and platinum holdings, and my small art investment via Masterworks) were mostly unchanged during October, rising only $48 (0.16%) to $30,923.

Our estimated house price for October (my half) fell another $27,595 (-2.43%) to  $1,106,405 with weakness in the Sydney real estate market due to rising interest rates. Declines are likely to continue until inflation is brought under control, the RBA ends the cycle of interest rate hikes, and home loan interest rates stop rising. I expect falls in absolute terms to continue, with the decline in real terms being worse due to inflation (currently running at 7.3% pa).

I was notified that settlement for my 'off-the-plan' investment unit will occur sometime in January, so I have a meeting to discuss a mortgage application with our current bank during November. The prices for units (apartments) in the suburb have started to decline slightly, but on the other hand rents have been rising (which will help with cashflow to fund the mortgage repayments).

The value of my retirement savings recovered to $1,403,709 (up $78,966 or 5.96%) during October, reversing the decline suffered in September.

Overall, my estimated NW increased to $3,121,926 during the past month - up by $55,962 (1.83%), recovering about half the decline in NW suffered during September.

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