The 2019 Australian federal election has been called for May 18th. Elections are always a tricky time for real estate, and this year looks no different, especially as negative gearing and capital gains tax have become politicised topics. Here’s Henry’s take.
Hi, I’m Henry Wong from RE/MAX United Vision.
We’re here to talk today about the, I guess, upcoming federal election. More than likely we’re gonna see a federal election around about May, so a few months’ time.
Now I guess the biggest topics up for discussion with regards to real estate is negative gearing and capital gains tax.
Now one of the major parties are proposing to get rid of negative gearing, which will have an impact on investors, and also the increase on capital gains tax as well.
So generally with regards to election we will see a bit of uncertainty in the marketplace. That also affects consumer sentiment, that is, buyers.
So I guess at the end of the day if you’re a homeowner and you’re looking at possibly selling, it’s probably a good idea to at least consider selling before the election or long before the election.
Now at the end of the day, it all depends on your personal situation, as you know your own situation best.
Regardless of what happens during the election or after the election, life goes on. People gotta move, people gotta upsize, people gotta downsize.
