Money: Experts predict Australia's property market is likely to bounce back after Scott Morrison's unexpected re-election - PressFrom - Australia
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MoneyExperts predict Australia's property market is likely to bounce back after Scott Morrison's unexpected re-election

00:40  27 may  2019
00:40  27 may  2019 Source:   dailymail.co.uk

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Experts predict Australia ' s property market is likely to bounce back after Scott Morrison ' s unexpected re - election . The Coalition government is expected to make three rate cuts throughout year. It is also expected to loosen lending regulations which individuals need for loan.

Experts predict Sydney' s property market is likely to bounce back after Scott Morrison ' s unexpected re - election as Prime Minister.

The unexpected re-election of Scott Morrison as Prime Minister is likely to boost Australia's property market, experts have claimed.

Experts predict Australia's property market is likely to bounce back after Scott Morrison's unexpected re-election© Provided by Associated Newspapers Limited The coalition government is expected to make up to three rate cuts and loosen lending regulations (Pictured: Prime Minister Scott Morrison and his family)

The Coalition government is expected to make up to three rate cuts and loosen lending regulations making the market attractive to home buyers - as property prices in Sydney and Melbourne have slumped to 2016 levels.

It has proposed to reduce the minimum interest rate which individuals need to meet, making loans more accessible.

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Australia ' s ailing housing market got a triple tonic this week as the RBA flagged interest rate cuts, the banking regulator eased lending criteria and the threat of tax changes that could have hurt property investment abated with the government' s re - election . Thousands of new units in Sydney will likely

In the lead-up to Australia ' s election night, Professor Bela Stantic predicted that Scott Morrison would win. Morrison ' s own Facebook page attracted 25 per cent more interactions - reactions Political communications expert Scott Wright said it was clear the Liberal Party was putting a lot of

Belle Property sales executive Marina Makhlin told Nine News that both buyers and sellers were apprehensive about what a Labor victory would mean for the economy.

'People really didn't know how it was going to affect them and I think that fear was really holding people back from making any decisions, any buying or selling decisions,' she said.

The Coalition government is offering a loan offer in which first time buyers can buy a property with a deposit of five per cent instead of the usual 20 per cent.

This weekend has proved to be a strong indication of where the market will be going as 2000 homes have been placed on auction in Sydney - 50 per cent more than last weekend.

Property prices have fallen 7.2 per cent in the past 12 months, CoreLogic data revealed.

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How the election result will affect your hip pocket The shock Coalition election victory win will have implications from the tax you pay to buying a home. The shock Coalition election victory win will have implications from the Nine's finance editor Ross Greenwood told the Today show Scott Morrison’s re-election will affect the money in your hip pocket. HOUSING There’s good news, when it comes to property, the experts said, for both investors and, to a point, those trying to get on the housing ladder.

The Coalition’ s shock election victory over the weekend has provided an unexpected shot in the arm to Australia ’ s sagging property market . First homebuyers ‘biggest losers’ from Coalition win as experts predict handbrake on house price falls.

Investors are clearly happy with Scott Morrison ’ s win in the federal election, sending local shares “Now that those changes are off the table, investors are piling back into the highly franked Mr McCarthy said the re - election of the Coalition is a real change from what the market was preparing

Sydney median prices last month were around $780,000 while Melbourne homes were at an average of $622,000.

Experts predict Australia's property market is likely to bounce back after Scott Morrison's unexpected re-election© Provided by Associated Newspapers Limited Belle property sales executive Marina Makhlin (pictured) said people have been holding back from buying and selling

Economist Jason Murphy said the jump in the number of auctioned homes was a result of the Coalition victory.

'Negative gearing changes are out and the change to the capital gains tax are not happening,' he wrote for news.com.au.

'These are likely to have a positive effect on prices, but how big will it be?'

Experts predict Australia's property market is likely to bounce back after Scott Morrison's unexpected re-election© Provided by Associated Newspapers Limited Lower assessment rates could make home loans more accessible for potential buyers (file image)

The Australian Prudential Regulation Authority have suggested lowering the minimum interest rate buffer, which is used to determine whether a buyer can meet repayments on a higher rate.

Senior economist Bill Evans told The Guardian he suspects the Reserve Bank of Australian will announce a cut of 0.25 per cent at its next meeting on 4 June.

The three rate cuts, which could be made this year in June, August and November, would increase employment and the economy.

'Scomo effect': House prices tipped for huge spike by July.
Australia’s housing market downturn is coming to an end, with leading economists predicting a spike in house prices as soon as July. Property prices fell one per cent nationally in January, with CoreLogic data showing a smaller decline of 0.5 per cent in April – a result tipped to be repeated for May. It comes after Commonwealth Bank's incoming, home loan applications jumped to a 10-month high and strong predictions of interest rates cuts.

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