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The looming federal election could give the property market a much needed boost, new research has found.
According to Raine & Horne’s chief executive officer Angus Raine, home buyers tend to avoid buying property before a national election.
“Therefore an August election is perfectly timed from our point of view, as winter is typically a quieter time for property sales,” Mr Raine said.
“An early poll will enable vendors to list in August or earlier, and won’t affect buying aspirations through the traditional spring selling season.”
And PriceFinder’s chief operating officer Kent Lardner agrees.
“Sales numbers tend to decline during a federal election,” Mr Lardner said.
“Most buyers and sellers tend to hold over until after the election as it’s traditionally been a bad time to sell or buy property.
“This coupled with the threat of another rate rise and the aftermath of the first home buyers grant will see the property market on hold.”
Property refers to either a tangible or intangible item that an individual or business has legal rights or ownership of, such as houses, cars, stocks or bond certificates.