The real estate market always has sellers who need to or want to sell irrespective of the Election and they are more likely to listen to whatever offer has been made prior to the Election.

In actual fact, it is a great time for buyers of real estate as we continue to see the 5 key components that drive the real estate market in positive territory.

  • Gross Domestic Product eased back in the early parts of this year but still remains at one of the highest levels of all the international economies, and we have continued to avoid any form of recession.
  • Population Growth remains at very firm levels and continues to supply a constant demand for real estate on the Gold Coast.
  • Unemployment has been in decline throughout 2018, so yet another very supportive component of the real estate market.
  • Interest rates have always been one of the most critical factors in the real estate market. There has been increasing discussion about the next move in interest rates being downward.
  • Consumer confidence. We are continuing to see consumer confidence knocked round leading to the election. Consumers are being bombarded by all Political parties with the highest level of fear-mongering which will leave us fearful about our futures. As you know, Negative Election Campaigning happens every Election and that is why consumer confidence always dips in the lead up to an Election.

In fact, at present, we are seeing many investors coming back into the market to buy. They are concerned with the prospect of a change of Government at the next Federal Election in May that negative gearing will not be available for resale properties and they see that they would be wise to secure the negative gearing arrangement, which has been a long-held Australian tradition prior to our upcoming Election.

Perhaps a good strategy for all those looking for their next investment property to get out and buy it before there is any change after the Election.

Once we are passed the Election and into the second half of 2019, greater stability will start to come back into the market.

The Gold Coast will probably end up being judged as one of the strongest and most stable markets of 2019, as there have been some modest adjustments in some areas of the Gold Coast, and other parts we are continuing to see record prices achieved.

I will be back with you in 2-weeks’ time, at which stage we will have elected a new Government. With all our major distractions out of the road and the likely drop in interest rates, I think we will see a very busy real estate market as buyers are already telling us they believe the revised prices are now representing great value in the marketplace.