A potential window of opportunity for Sydney property buyers
The upcoming federal election has created a potential window of opportunity for Sydney property buyers.
According to real estate agents surveyed by PropTrack, competition for homes has eased over the last few weeks as some buyers adopt a wait-and-see approach before the election.
Uncertainty over the outcome of the election and the potential impact that may have on policy and property means fewer buyers are active in the market.
For those ready to buy, this could mean less competition, more negotiating power and more chance of securing a property at a favourable price. Sellers motivated to close deals before any potential property market shifts may also be more open to offers.
Buyers who act now could take advantage of this brief lull before demand potentially picks up again post-election.
About the author – Alex Veljancevski is a Sydney mortgage broker with Eventus Financial, which assists first home buyers, investors, upgraders and borrowers seeking to refinance to a better deal on their home loan.