The risks to the property market, particularly in Sydney and Melbourne, have been significantly downgraded, following the shock result of the federal election, according to RiskWise Property Research.
“Labor’s loss has eliminated the number one risk to the property market and this, combined with the high likelihood of interest rate cuts by the RBA [Reserve Bank of Australia] this year and the first home buyers’ scheme, will support the bottoming of the market by the end of the year and then a gradual recovery,” said Doron Peleg (pictured), RiskWise CEO.
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