Buyer confidence however and less uncertainty among landlords and tenants, probably won’t have a tangible effect for another six months or so.
Proposed capital gains tax and negative gearing reforms had already been factored into the market, with people preparing for the possible changes.
But with those reforms out the window, together with predictions of both an interest rate cut and further encouragement for first home buyers, housing prices may finally get a chance to recover.
The turnaround won’t be a sharp one and prices will likely drop a little further, but signs of a recovery are there.
A positive sign at this early stage is that properties are generally selling prior to auction and there are certainly some outstanding results being achieved.
Buyers who were holding off until after the election, may have renewed interest and drive the upwards trend in the market.
As we’ve said before, there are always buyers and your home will sell if it’s price and marketed correctly.
