Should sell property in Auckland now or after election if want a good price?

[MelodyShi]

Hi,Guys,I would appreciate your advice: if I want to sell the properties in Auckland (One is of 1.6M range home buyer type, another one is around 2.5M range home and income rental type), should I wait till after election or sell it now if I want a good price? Do you think the price will go up hugely after election? Thanks.

[McDuck]

Hi,Guys,I would appreciate your advice: if I want to sell the properties in Auckland (One is of 1.6M range home buyer type, another one is around 2.5M range home and income rental type), should I wait till after election or sell it now if I want a good price? Do you think the price will go up hugely after election? Thanks.

Hi.
It's a very good question.
No one really can tell the future.
Since it is you who will make or loose money, you must decide.
The outcome of this election is far from known.
There may be some very big surprises.
Winston may even end up running the country at this rate.
If you read all the reports on house price direction, you will see that they are empty.
A big headline to grab attention and get clicks, but no actual content.
Any factual data is smaller than statistical error.
So you will just have to take your best guess or go on your feelings.

[chook]

Hi,Guys,I would appreciate your advice: if I want to sell the properties in Auckland (One is of 1.6M range home buyer type, another one is around 2.5M range home and income rental type), should I wait till after election or sell it now if I want a good price? Do you think the price will go up hugely after election? Thanks.

Im rolling around on the floor laughing currently...

[chook]

Hi,Guys,I would appreciate your advice: if I want to sell the properties in Auckland (One is of 1.6M range home buyer type, another one is around 2.5M range home and income rental type), should I wait till after election or sell it now if I want a good price? Do you think the price will go up hugely after election? Thanks.

I am back standing up now, Cameron Bagrie said on 6pm news last night that house prices will rise 20% instantly if we get a National/Act Govt! It made me chuckle, I think he has a point but I am not sure about the 20% part. Also what happens when we get the impending world wide credit event ?.....oh you havent heard about that ???
But I think McDucks summary nails it on the head and remember the old saying about price expectations, "what you want and what you get could be two different things"

[hawkeye]

And it depends on your personal situation whether you take the risk. If you have lots of debt and an uncertain job eg in communications or working for government I would be hunkering down. If you are debt free and have a few rentals you might want to hold on and see what happens.

[brokerman]

Hi,Guys,I would appreciate your advice: if I want to sell the properties in Auckland (One is of 1.6M range home buyer type, another one is around 2.5M range home and income rental type), should I wait till after election or sell it now if I want a good price? Do you think the price will go up hugely after election? Thanks.

It is a good question and here's my take. Labour have hammered not just property investors buy home buyers too with a mix of CCCFA and LVR restrictions. They have also hammered lenders with CCCFA and CoFI. Plus of course a massive jump in interest rates. Now, although a change in government will not reduce rates in the short to medium term it will mean a huge change in confidence. The Nats will review CCCFA in regard to mortgages and repeal CoFI. They will also reinstate most of the anti investor policy which will make investors more active. Personally I'd wait if yuo can as prices will move once current stock is bought up. I am already seeing a big increase in enquiries from investors, many of whom are pretty seasoned and have been holding back. Hope that helps.

[JBM]

I am back standing up now, Cameron Bagrie said on 6pm news last night that house prices will rise 20% instantly if we get a National/Act Govt! It made me chuckle, I think he has a point but I am not sure about the 20% part. Also what happens when we get the impending world wide credit event ?.....oh you havent heard about that ???
But I think McDuck's summary nails it on the head and remember the old saying about price expectations, "what you want and what you get could be two different things"

Cameron must be smoking his own belly button lint ... so 800k units to 1mill over night LOL Well that would be inflationary floating to 10%!!

[chook]

Cameron must be smoking his own belly button lint ... so 800k units to 1mill over night LOL Well that would be inflationary floating to 10%!!

Yeah hes on drugs surely???