VIDEO – UK General Election and the Housing Market

5 months ago 0 0 175

The UK general election was called on 18 April. Unusually, news of the UK general election was not leaked, preventing a lengthy build-up in the housing markets. Virata Thaivasigamony, spokesperson of CSI Properties (Cornerstone International) shares his views on the subject. — Click on CC for subtitles. Or else, feel free to read the full transcript below: The Prime Minister’s call for a UK general election in (less than 6 weeks) was a surprising one. There are pros and cons, of course. The UK general election is an opportunity for the new government to create policies and a clean slate to do something for the voters. We all know that the no. 1 thing on voters’ minds are housing affordability and shortage of housing. On the day of the Prime Minister’s announcement, the pound dropped then rose to its highest level in weeks. In fact, it’s been on an upward

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Australia’s Housing Market To Remain Bubbling

7 months ago 0 1 1543

Very recently, the Victorian government announced the abolishment of the controversial stamp duty for first-time homebuyers. This ‘lifeline’ to young people struggling to get on the property ladder takes effect from July 2017 and is applicable for any homebuyer in Victoria whose property costs less than AUD$600K. In a market where experts and market watchers are spouting concern over housing undersupply and skyrocketing house prices, this could well be ‘the road to hell being paved by good intentions’. Why? Because simple economics tells us that cheaper property prices (in the form of the abolished stamp duty in this case) will stimulate demand. And increased demand in an overheated market will push prices higher in that price range. Even Federal Treasurer Scott Morrison has shared his reservations, which you can read here. Compounding this is the low interest rates (the central bank slashed rates twice last year) which  contributed to the boom in

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