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Pre-Election Info & Real Estate Update

As we head into the final weeks of the election campaign and winter, real estate agents are madly trying to sell their auction listings prior to Election Day which is notoriously and traditionally a quiet day in real estate. This election also marks the beginning of the spring auction campaign but there is a marked drop in auctions scheduled. Ideally you select an auction date either side of the election weekend but this year it was particularly hard due to the political turmoil in Australia and the shifting dates, and some properties have been caught in the shifting dates. On the weekend prior to the election there are 13 auctions scheduled to go ahead in our area, whereas on Election Day there are only 7 currently up for auction. As is always the case the following week the auction numbers will pick up dramatically and this happens no matter if there is a change of government or if there is a status quo, for some reason buyers don’t feel the need so urgently to buy a house at auction on Election Day.

Most agents are looking forward to the election being over so we can list more properties because winter has been a period of very limited stock and lots of frustrated buyers combined with attractively low interest rate opportunities. We are hoping that Spring and an increase in political confidence and stability will trigger down to encourage vendors to sell. Most encouraging for vendors is that Winter 2013 has seen a dramatic rebound in prices across Sydney, in particular in the $700,000 – $1.3mil price range. Surely this will encourage vendors to sell!

Where to vote?

Polling places will be open for voting between 8am and 6pm on Saturday 7th September. The Cook electorate covers as far west as Bonnet Bay & Como, east of the train line at Sutherland, all suburbs north of the Hacking River (from Grays Point to Cronulla and all suburbs south of the Georges River & Botany Bay) as per the map below.

The polling booths below fall between Cronulla & Caringbah:

  • Uniting Church Hall – Cnr Burke Rd & Gosport St, Cronulla
  • Cronulla Public School – 18-24 Burraneer Bay Rd, Cronulla
  • St. Aloysius Primary School Cronulla – 18 Giddings Ave, Cronulla
  • Cronulla South Public School – 121 Ewos Pde, Cronulla
  • Cronulla High School – Captain Cook Drive, Cronulla
  • Woolooware Public School – Riverview Ave, Woolooware
  • Burraneer Bay Public School – 161 Burraneer Bay Rd, Burraneer
  • Lilli Pilli Public School – Turriell Bay Rd, Lilli Pilli
  • Caringbah Public School – Port Hacking Rd, Caringbah South
  • Laguna St Public School – 204 Caringbah Rd, Caringbah South
  • St. Philip’s Anglican Church Hall – 402 Port Hacking Rd, Caringbah
  • Caringbah High School – 85 Willarong Rd, Caringbah
  • Sutherland Hospital Clinic – Kingsway, Caringbah

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Shortage of Properties For Sale, Winter 2013

The Reserve Bank meets today and the consensus is that that there will be a rate cut of .25% and with a Federal Election date now booked in this is good news for buyers. Yes I say buyers! Not since Winter 2003 have I seen a shortage of listings like this winter, where buyers come through an open house and eye their competition, recognising other buyers as bidders at the previous week’s auction, both being outbid by someone who went the extra $10,000.

In the current market buyers have to be ready to pounce, think twice and you will miss out. Mind you with fixed interest rates below 5%, it is a great time to be buying, there just needs to be more on the market for all the buyers currently looking.

Hopefully with the certainty of an election date and spring around the corner more people will decide to sell in the coming months and current buyers will be unpacked and moved in for Christmas 2013 in their new home.

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