Associate Director, Warren Ginsberg has sold two North Bondi properties valuing close to $7M prior to auction, only four days after the Federal Election.
12 Nancy Street, North Bondi sold Wednesday night for $3.725M and Residence 2, 11 Reina Street, North Bondi sold Monday night for $3.2M.
Mr Ginsberg says it was the result of the election that has stimulated these sales with a spike of interest post the weekends result.
“Prior to the election interest across the board was certainly not at the level to be expected.”
“It wasn’t until Sunday afternoon where we started to see a spike in email and phone enquiries for the two North Bondi properties.”
The victorious Liberal party in Ginsberg’s view has given confidence back into the property sector especially here in the eastern suburbs.
“No question the looming election was scaring off potential buyers due to the uncertainty around labour’s policies around capital gains tax and negative gearing.”
“Having the Liberal party still in office offers stability and we’ll no doubt start to see the market pick up just like we have with these North Bondi sales.” said Mr Ginsberg.
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The market has seen some real positive signs of improving over the past 30 days. This renewed confidence has been brought about through the Coalition winning the election, as we won’t see the radical property changes come into effect that Labour Party were suggesting.