Last week, Charlie was drinking with management and had this to say in his report: “Part of my job is reading body language of company executives. If I am any good at that, I can sense a growing confidence in the Telstra camp.

This is the complete reversal from three years ago, when any time you met a Telstra executive they were on the defensive.”

For a long time at Switzer Super Report, we have been saying Telstra would go to $5 – Paul Rickard made that call just over 12 months ago – and this morning it was trading at $5.16

And we have also been monitoring the residential property market with our weekly auction clearance rate report. We’ve watched as the numbers have slowly edged above 70% and then 80% in Sydney but we still don’t buy into the property price bubble talk. Paul Rickard wrote a very good analysis of it all here and a few weeks ago he sat down to chat with Peter Switzer about all the fuss.

Less than two weeks ago, the Reserve Bank was also saying that talk of a bubble was “unrealistic alarmism” and it did not think SMSFs buying property was a risk to financial stability.

As the table below shows, the significant growth in house prices is only really in Sydney and Melbourne and is coming off a very low base of at least two years of stagnant growth.

Capital city home value changes

Important: This content has been prepared without taking account of the objectives, financial situation or needs of any particular individual. It does not constitute formal advice. Consider the appropriateness of the information in regards to your circumstances.