Federal elections are having a detrimental effect on property values in Melbourne, new research has found.
Secret Agent Buyers' Advocacy released data from the 2004, 2007 and 2010 campaign periods and noticed that there is a trend of tumbling house prices in the inner-city in the six months leading to an election, Australian Property Investor reports.
The organisation noticed in its study that it took six months after the elections for housing price to slow down in fluctuation and experience steadier, upward growth.
However, the report does point to a buck in the trend in 2013 stating: "This year could be unique, however, as it marks the first election campaign period that the average property price in these inner-city suburbs is lower than that of the previous election."
Melbourne is still lagging behind Sydney in terms of clearance rates with the New South Wales capital currently having a rate of around 80 per cent a much improved total on Melbourne, ABC News reports.
Posted by Ravin Chatlani