Wow. How things can change in only a short space of time. One moment Kevin Rudd is Prime Minster of Australia. The next, he is out the door and Australia has its very first female Prime Minister, Ms Julia Gillard.
This raises many questions. Not least of which is what impact will this change of governance have on the Melbourne property market? Will vendors hold off selling? Will buyers be reluctant to enter the market? Will the changing political landscape, combined with a colder and wetter than normal winter in Melbourne, make house hunters go cool on real estate?
Unfortunately, it’s a case of more questions than answers at this point in time.
One thing we do know is the looming state and federal elections could drastically change the political landscape. Longed-for cuts to costly Victorian stamp duty and even a change of Federal Government are giving both vendors and buyers plenty to think about. It will certainly make for a very interesting couple of months.