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online payday loan The Labor Party proposed policies to change negative gearing and capital gains tax concessions were viewed as a foregone conclusion but early indicators show Scott Morrison surprise election victory will be a boost for the struggling housing market.Sydney recorded preliminary auction clearance rates of 69.9 per cent, according to CoreLogic, which is expected to achieve its best final clearance rate for the year adjusting for slippage.The final rate will likely fall in the low 60 per cent range, compared to the 56.6 per cent the week before.The combined preliminary capital cities rate jumped to 62.6 per cent from 57 per cent the Saturday before.The market was expected to continue its downward spiral if the Labor Party had formed government and enacted on its promise to overhaul property policy.fact that investors are looking at continuity of the negative gearing and the capital gains tax concessions would be one thing.also interesting to note is that post election there been a fair bit of talk about APRA changing the serviceability buffer to make it less onerous for a new borrower. Likelihood the Reserve Bank of Australia will cut rates at the start of next month might be the final hurdle before buyers return in droves.The winter months are typically slow for property activity but Mr Brogan says an interest rate cut may prove too irresistible.see fairly quickly whether or not people are deciding to list straight away or if they going to be anticipating a big spring, which is traditionally when the market really picks up, he said.Auctioneer James Pratt said the weakening of the Sydney market had been evident by the lower turnout to bid for homes.He said there was typically only one active bidder at auctions leading into the election but on Saturday there were two more registered parties at each of his homes going under the hammer.makes a huge difference in this market when you got four registered and three of those four are bidding, Mr Pratt said.But the flurry of recent good news will lead to many investors jumping into the market, worried they miss out on lower prices.now buyers know it a good market but for how long and that the number one fear, that it going to get back to that point where they just going to keep missing out because the prices keep jumping each month payday loans online, he said.SQM Research founder Louis Christopher said the small sample size made it hard to rush to conclusions but he has been vocal in his view Labor policies would have caused the housing market to plummet further.need to see a few more weeks go by before confirming a new trend, other than to say our expectation is the market is likely to strengthen from here, he said.really think the big jump will happen in spring, that will be the time at which we really start to see the market performing again. Ms Conisbee said the market won experience the dramatic booming in prices similar to the four years leading into 2016 because of the lack of offshore investors..online payday loan

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