Forewarned is forearmed, as they say.
Something is happening next year which could significantly affect the property market for a bit.
Any guesses?
Here's a hint; It involves lots of egos, self-importance, ridiculous promises which will never be met, lies, and annoying billboards.
Yeah, it's election year next year.
And election years have historically often been pretty rough for property markets. In fact, particularly in the months leading up to the election, they can really put the market into a 'pause' mode.
Of course the past doesn't always equal the future, but the best predictor of the future is often the past. So, what if we look at possibility vs probability?
Is it possible the election will significantly affect the market? Yes.
Is it probable? Well...What do you think? This will be a very heated election. We will be in Winter for the lead-up, in an environment of far higher interest rates, and possible recession. Of course, all sorts of things could change between now and then, but as it stands today, it's worth keeping an eye on, no?
So what does it matter? That depends on your strategy. But there's certainly no harm in factoring this potential change into your planning for next year.
:-)