Poll boost pumps up property
THE decision by Prime Minister Malcolm Turnbull to pull the trigger on a rare July federal election will provide the Australian property market with a significant shot in the arm, according to Raine & Horne executive chairman, Angus Raine.
Mr Raine said Australians were generally wary of buying or selling a residential property during the lead-up to a federal election.
“Generally, whether we’re buying or selling, we tend to wait until the election is decided just in case there are any unforeseen surprises,” Mr Raine said.
“Now that the election has been called for July 2, this represents the perfect timing from our point of view, as winter is typically a quieter time for property sales.
“A July poll will enable vendors to list their properties in July and August, and it won’t affect their buying plans through the traditional spring selling season.
“This decision, while it mightn’t help real estate activity during the two month election campaign, it will put vendors in an excellent position to meet their property goals by the time the traditional selling season begins in early September.”
Mr Raine also cautioned against changes to negative gearing or the capital gains tax discount, which could potentially fall under the label of ‘unforeseen changes’.
“Real estate investment is a favoured asset class by millions of Australian voters because it is deemed safer than shares and easier to understand than bonds,” Mr Raine said.
And good luck to the owners of 100 Oriel Rd, Clayfield who are selling their home via tender which closes this coming Thursday through Sarah and Damian Hackett at Place.
This four-bedroom home on a supersized 2034sq m private estate in the heart of Clayfield is being offered to the market for the first time in 33 years.
This elegant home also has a dedicated cinema room, office, cellar, a six car garage, a sparkling swimming pool, a huge wine cellar and a full-sized tennis court.
Our house of the week is 100 Oriel Rd, Clayfield. Place – Bulimba agent Sarah Hackett says this home is positioned within the highly desirable, family friendly enclave of Clayfield. Photo: Claudia Baxter