Agent view: Election puts housing in spotlight

By
Anthony McCormack
October 16, 2017

It certainly is one of the big talking points at the moment as to how the election will affect our market, particularly this election, as housing is under the microscope with housing affordability and also negative gearing being discussed vigorously by both major parties.

Negative gearing changes have been met with fierce opposition from within the property industry.

Traditionally, we do see fewer listings and sales at election time and this year it could be magnified if this housing conversation continues to build momentum. 

Behind the scenes, our local market continues to push along with strong auction clearance rates hovering around the high 60 per cent mark.

I am seeing strong demand in the established areas I am working in, particularly in the $700,000 to $1 million range as many buyers continue to take advantage of low interest rates and look at upgrading their existing family homes.

With stock levels remaining very tight traditionally over the next couple of cooler months, we will see an opportunity for sellers to achieve a premium price with buyers having less choice available.

Anthony McCormack is a sales consultant at Luton Properties Woden.

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