Property Buyers Auckland Consider the Auckland Property Market After the Upcoming Election Decider Talks

With New Zealand about to find out the result of the recent election, what impact if any will that have on the economy, and the property market in particular? The answer to this question is obviously extremely important to anyone considering buying a house or investment property.

The upcoming election, more than any election in recent history, will have you stopping to think again as a prospective buyer, in particular with the Labour party’s suggestion of a capital gains tax. Added to these are the LVR’s and banks’ lending restrictions tightening up, which all makes for the gradual stalling of the Auckland property market.

Going by the impact after the last elections, there was a decline in sales volumes in 2014 between the period when the general election date was announced in March 2014 and when the country went to the polls in September 2014, with the drop in sales volumes likely attributed to the market adopting a ‘wait and see’ approach.

This means many Auckland property buyers have put purchase decisions on hold given, there is always a degree of uncertainty in the market due to the range of economic policies on offer during an election year. However, in the first quarter of 2015 there was a significant increase in sales volumes, indicating a stable government has a direct bearing on  market confidence.

It is obvious that a general election can have an impact on the New Zealand property market, given volumes typically decline in the lead up to polling day as people adopt a ‘wait and see’ market approach. The re-election of the current Government has obviously played a significant role in ensuring stable market conditions, a large attractor for both local and international market participants. A change of government in the future is likely to create different market conditions – particularly in the period post-election.

Auckland House Buyers are Auckland’s premier private house buyers, and for more information on how to sell houses privately, private house buyers and advice on selling your house, please go to https://propertybuyersauckland.co.nz .