Every election year, the Canberra “commentariat” whips themselves into a frenzy, speculating on a date and timing, before leaping from the gate into the campaign. The official race is still yet to start but July 2, 2016 is the bookies’ favourite for a double dissolution election. The inevitable toing and froing between parties pitching real estate policies to voters has already started with negative gearing and capital gains in the firing line.
But don’t for one moment think that confusion and uncertainty in the lead up to a poll means it’s a bad time to sell or buy real estate. Research shows that election years have very little impact on the property market at all.
Seasonal influences and interest rate changes play a greater role than any market uncertainty around policy changes according to a study of five election cycles by Cameron Kusher at RP Corelogic data in 2013.
Mr Kusher concludes “How much the trends outlined above can be attributed to an election is debateable. Arguably the momentum of the market cycle is influencing the trends just as much as the election. Regardless of the cause, it looks like federal elections don’t have a slowdown effect on housing market conditions.”
So, if you’re worried about selling your home during an election campaign, history says don’t. Call the team at Fisk & Nagle First Choice to get your plans underway and don’t wait for the politicians to argue about theirs.