Australian politicians need to make the right decisions in order to boost the property market in the country and lead to an overall recovery in trading, an expert has claimed.
Writing in Property Observer, market analyst and housing expert Catherine Cashmore argued that economic fundamentals are ultimately secondary to policy decisions from those in positions of power.
She pointed to decisions on foreign ownership, negative gearing, town planning and stamp duty as four examples of how political moves can play a major role in shaping the situation faced by the Australian property market.
"At the bottom of it all is confidence - it's the vital ingredient that reduces the feeling of risk while underpinning a sense of direction," she explained.
This means election results can play a crucial role in investor sentiment, concluded Ms Cashmore.
This follows the Property Council of Australia's praise for the New South Wales government's Green Paper reform.
Posted by Craig Francis
