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Many agents and Property Professionals are saying it’s ‘quiet out there’. And I must say I’ve noticed a slow down in enquiry in the past few weeks also. So what’s going on? Is everyone waiting for the looming Federal Election to be over? Possibly, but if so, why?
Doesn’t business continue regardless of who’s in Government? Even if Labor get in, it will take many months (if not years) to implement some of the changes they have in mind in regard to negative gearing or other potentially detrimental moves for the property industry.
We’re not going to wake up one day after the election to find our world in chaos. Yet, this is perhaps where we are. Everybody waiting for the storm to pass. This reminds me of the old saying below…
Fortune Favours The Bold
Savvy investors know that these turning-points, pauses and market corrections are where the real winners arise. While everyone else is sitting on their hands, they’re out snapping up bargains from frightened people who have become immobilized with media stories of doom and gloom and economic collapse. Remember, it’s the media’s bread and butter to create stories. And we all know a negative story sells a lot more newspapers than a positive one.
The GFC (Global Financial Crisis) in 2008 was the mother of all economic collapses and those who were bold back then, while (or because) there was blood on the streets, are many of the wealthiest people around today. The next two months will be interesting for Australian commercial property, but in the big scheme of things, we’ve seen it all before. We’ll soon be back to business as usual and the savvy players will have refreshed their portfolios. Onward and upward.
Got a different take on this? Comment below, we’d be keen to hear your thoughts.