Weekly Market Pulse - 18th April 2019
We are now a full week into the election campaign. Labor has announced that if they are elected, their Negative Gearing Policy will come in to effect the 1stof January 2020. At Raine&Horne Bundaberg, we believe based on the data available we will see an increase in investors buying up existing homes before the end of the year and then a serious lull in buying activity after that time. Whilst the Capital cities and markets that are more buoyant than ours could handle some correction in favour of the first home buyer, Bundaberg and the surrounds represents great value for money and could be detrimental to some sellers.
Speaking with buyers in 2019, it would appear the challenging lending environment will continue and further restrictions may be imposed following a raft of recommendations from the Royal Commission that are still to be reviewed and considered.
We’ve experienced a steady flow of new listings coming onto the market this year but there certainly isn’t an oversupply. We have also seen in recent weeks a number of cash unconditional contracts and multiple offer scenarios leading to some excellent property prices. All of these properties were marketed and presented well.