The federal election is over! So what does that mean for the Perth property market?
The number of homes for sale and interest rates are at record lows, so if you’re looking to sell in the coming year, there has never been a better time. Hear these FIVE reasons why from Brendan Leahy:
- Typically, a looming election will freeze the economy. Buyers will wait to see what happens before they make any big financial decisions. But now the election is behind us, there’s nothing holding them back! In my 12+ years in real estate, I’ve seen the property market always gain momentum after a federal election – but it won’t last forever.
- Interest rates are at an all time low, and are enticing buyers back into the market every day. Just yesterday the RBA cut the cash rate to a historic low of 1.25 per cent, putting an extra $58 in the average home owners pocket (according to Sally Tindall from RateCity). What’s more, the Reserve bank governor Philip Lowe has said there may be another cash rate cut before 2019 is out; he states “the cash rate [may] be at around 1 per cent by the end of the year.”