Already, the 2013 federal election is showing signs of being unlike any other. Often a looming federal election will signal a noticeable dry spell in real estate. Buyers and sellers sit on their hands in the lead up to an election, opting to wait for the result before committing themselves to borrowing more money or settling on a new home.
However, this year we’ve noticed something quite different. As news broke that there would be an election on September 14, there was nothing. No change. The last quarter has shown growth in the market, and buyer enquiry has continued to be strong over the past week.
There are several theories as to why this may be. The first is that many believe (including expert economists), that there is unlikely to be any significant impact on the economy regardless of who wins the election. It seems that the days of elections in Australia being won or lost over huge policy debates are becoming less and less commonplace. And with the result promising little impact on the economy, why hold off on buying or selling if you’re ready to go?
In addition to this, the market is currently enjoying a growth period which began towards the end of last year, buyers have the luxury of entering the market with interest rates remaining at their lowest since the global financial crisis, and the sharemarket and Chinese economy are both showing positive signs of recovery. If you’re thinking of buying or selling you’ve got all the ingredients of a thriving pre-election real estate market!
Things are looking great for the Bacchus Marsh real estate market. If you’d like to take advantage, and would like to discuss your plans to buy or sell in Bacchus Marsh, please drop in to our Professionals Arbee Real Estate office for a chat.