Election results impact on the property market
The federal election turmoil has settled and so have our markets, to some extent. There’s been much speculation in the media and in boardrooms around the country, analysing the likely flow-on effect of the election results on the property market and where we are headed in next 12 – 24 months.
With no changes to negative gearing and capital gains tax, and the potential for broader tax breaks, the news is good for investors and buyers. Not so much for first homebuyers however they will have access to loan schemes enabling them to purchase property with a 5% deposit. On the downside, low inflation and low economic growth levels add an element of risk, however this also increases the likelihood of predicted interest rate cuts, another positive for the market.
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