PHOTO: Scott Morrison
Property investor activity has increased after Scott Morrison’s Federal election victory, with real estate agents reporting they are receiving double the number of inquiries from buyers.
Real estate agents told The West Australian there was an increase in market confidence after the Prime Minister’s election win, with buyers no longer fearful that Labor’s negative gearing policy would cause prices to fall. Under Labor’s plan, negative gearing was to be limited to newly built housing.
Real Institute of WA president Damian Collins said while Labor’s policy had a grandfathering clause which allowed those who were already negatively gearing their properties to be able to continue to do so, it had created uncertainty in the market.
Mr Collins said at his own agency he had double the amount of inquiries this week compared with before the poll.
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