Uncertainty is unsettling, especially when you are contemplating important decisions regarding the place you live, or around your biggest investments. Given the choice, in times of flux, most people will opt for the status quo. Better the devil you know and all that. And so we find ourselves in such a place, still trying to fathom the long-term effects of a raft of legislative and financial changes that have recently been brought in, plus facing a potentially bigger and yet-to-be-defined change to our tax laws in the shape of a Capital Gains Tax (CGT). It’s hardly surprising, then, that the market has flattened out somewhat.
These factors will continue to have an impact on the decision making of buyers, sellers and investors over the next 12-18 months as the effect of these new legislations become clearer and also the detail of the proposed CGT is firmed up and what the coalition government will campaign on going into the next election. Ultimately, we as a nation will decide the outcome of the CGT debate, and that’s one of the great things about living in a democracy – we all get to weigh up both sides and ultimately decide by majority on the result.
That all said, the latest statistics have revealed some very interesting numbers across the suburbs in which RWDG operates. During February, for example, we had 2,643 buyers through our properties, compared to 1,128 across the same period last year. This statistic alone indicates that buyer interest in our core, inner-city suburbs and our burgeoning market on the lower North Shore remains very high – a fact backed up by the number of properties we sold across the region last month, where some suburbs saw a 100 per cent increase in homes sold in January.