Elec­tion out­come is restor­ing con­fi­dence

Sunshine Coast Daily - Caloundra Weekly - - NEWS - Bill Hoff­man bill.hoff­[email protected]­news.com.au

REAL es­tate agents agree on one thing – the fed­eral elec­tion re­sult, rather than a 0.25 per cent cut in in­ter­est rates, was likely to have the great­est pos­i­tive im­pact on the prop­erty mar­ket.

Har­courts Caloun­dra prin­ci­pal Luke Carter has been in­spired by not just the elec­tion re­sult to shift cash back out of the bank and into in­vest­ment, this week sign­ing a $985,000 con­tract on a Shelly Beach prop­erty.

He’s also been mo­ti­vated by West­pac’s 0.35 per cent in­ter­est rate cut for in­tere­stonly loans to what was a pre­dom­i­nantly in­vestor mar­ket for that prod­uct.

Mr Carter was con­fi­dent cash buy­ers flow­ing out of south­ern mar­kets with big bud­gets and bor­row­ers would ul­ti­mately put pres­sure on sup­ply and re­turn growth to the mar­ket.

“There’s been a def­i­nite change in sen­ti­ment (post the elec­tion),” he said.

Mr Carter said prior to the elec­tion peo­ple lacked con­fi­dence. He now points to a Golden Beach prop­erty, which has sold for $1.17 mil­lion, the high­est price in the area for five to six years, a new $2 mil­lion­plus bench­mark in Pel­i­can Waters and an­other for just shy of $5 mil­lion at Moffat Beach.

In Mooloolaba Kevin An­netts of Kevin An­netts Real Es­tate was also cer­tain the elec­tion re­sult had brought con­fi­dence, which, cou­pled with the rate cut, could only gen­er­ate mar­ket con­fi­dence.

In­ter­est was emerg­ing from all sec­tors in­clud­ing pro­fes­sion­als, re­tirees and fam­i­lies.

Groups of 10 from all over Aus­tralia and the world were lin­ing up to in­spect rental prop­er­ties at Har­mony while buy­ers were pre­dom­i­nantly out of Queens­land’s south-east.

PHOTO: ERLE LEVEY

PROMIS­ING SIGNS: Dan Sow­den calls the bid­ding for Ray White at Moun­tain Creek. Agents say the fed­eral elec­tion re­sult has had a big im­pact on the mar­ket.

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