Sydney Property Market Update 25/05/2019
Well I certainly didn't see that coming!
And I'd hazard a guess that even the most ardent Scott Morrison fan and Bill Shorten adversary didn't either.
The Federal Election result on Saturday was indeed a big shock and really does put the Pollsters who predicted a totally different outcome over an extended period of time in a highly questionable position.
I really think we're in a unique time where the value of such voting polls are no longer reliable due to the rapid fast changing nature of our society. What a person answers today and is reported accordingly could actually change as immediately as tomorrow.
When you also couple that with the increasing "privacy" factor where direct face to face or voice to voice answers are no longer given it is much harder to determine the mood so to speak, of a large group of people on any particular issue. We have noticed a similar trend in our offices where the success rate of phone calls to purchasers is at its absolute all time lowest.
Even the bookies got it horribly wrong though so it really was a very unexpected outcome.
The good news from a property perspective is that whatever the result and whichever way your political loyalties lie, the market can now return to a sustained period of normalcy where outside distractions are minimal at best.
It is very rare for Sydneysiders to vote in two elections so close to one another and it is impossible for this not to have a significant impact on big life changing decisions like both buying AND selling a property. Hopefully that won't be the case for the rest of the year.
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