Buyers wait for poll results before purchasing property
AS THE election date closes in, are potential property buyers holding off their purchases in hope of new government leadership? Or will the current market remain unaffected by such future political affairs?
Gladstone Ray White principal Andrew Allen said some people are focused on the political situation and will wait until after the election to buy.
"But in reality, it doesn't matter," he said.
Mr Allen said the only difference in waiting until after the election was to provide people with more certainty.
"It won't affect prices but it may affect people's confidence in buying - knowing what government we're going to have."
Mr Allen said he would encourage people to consider purchasing now if they are in a strong employment situation.
"The prices are now at the lowest point we've seen in two years.
"You can almost buy for the same price you can rent now.
"It's fair to say that we're in a market dominated by buyers seeking value with a fall in sale prices that occurred in the last six months."
Mr Allen ultimately predicted a relatively subdued property market in the future, in comparison to two years earlier.
"My prediction is steady as she goes," he said.
CQUniversity centre for environmental management Dr Delwar Akbar has extensively researched the local property market.
Dr Akbar said Gladstone was still a seller's market, compared to Queensland regional cities.
"The median house price is still higher than that before the boom period in 2009," he said.
Dr Akbar did agree with Mr Allen in that the election result would not seriously impact on the housing market "because our resource sector depends on the international market".
"The small house/ unit price may not decrease but some luxury or large house prices may decline in coming days."