Should I sell before the election?

[krystalw90]

My husband and I are doing a few renovations on our property (main home) in preparation to sell. Should we be speeding the process up in order to sell before the election? Will the election have an affect on how well our home will sell and why? We have heard that it does so we're a little nervous as we are very close to the election of a possible new government. Thanks

[Anthonyacat]

You're a little nervous, so are a lot of other people. Activity slows a lot pre-election, because people don't know what's going to happen. The best time for you to sell your house would have been about July-November 2016, but that's not a lot of use now.

No one knows what'll happen after the election. Could be good for prices and sales, could be bad. The election will probably have an effect on how well your home will sell, but there's no way to know whether it'll be a good effect or a bad one.

[Wayne]

Westpac in their latest update said this

There are also suggestions that nervousness about September’s election is weighing on housing market
conditions. However, in the past, pre-election uncertainty has only had a small, impact on the housing market.

So the election may have an effect but Westpac say, in the past, it affects things little.

[Nick G]

You buy and sell in the same market (I assume you're buying another home), so no big deal.

Elections always bring uncertainty. It's a good time to buy, as evidenced by most people saying it's a bad time to buy.

[Bobsyouruncle]

Given that the market isn't great to sell right now I would wait. Unless you need to sell, wait till the media is full of good news again then get it sold. Of course if you are outside of Auckland and your market is going gang busters then ignore the election and just get it listed.

[d2ba]

My thoughts:-
If you think we could be heading for a crash get it listed now or risk a real devaluation --nothing ventured nothing gained
There is still moneyed buyers out there...

[Learning]

You'll get a hundred different opinions on what will happen in six months. Many will be close, others way off but only one of them will be absolutely right. What ever choice you make hindsight will be the only measure of its success.

[Richard Mason]

I like the comment about buying and selling in the same market so it doesn't really matter. But if you sell (well, under offer anyway) before the election but don't buy until after then you will carry more risk of a change impacting you as the market may have changed. Could be good, could be bad. You sound risk-adverse so I suggest waiting.

[donna]

I reckon an informed decision has to consider the following: the type of property (i.e no. of beds, luxury, or mid range etc), where it's located and your motivation for selling (to move somewhere nearby or outside the region or just make a profit for another investment). Plus when you know what you want to sell it for you could hedge your bets and list before the election and sell when the price is right and that could happen before or after the election - I suppose if you wait till after the election you may be left wondering 'what if?'

cheers,

Donna

[Bluekiwi]

Too late you missed the boat.

If you are going to sell, do it straight after, say October or November.

Or have a go early next year.

Now is the worst of times.

Anytime from 2015 to mid 2016 you would be getting 20% more for something decent

[Bluekiwi]

If your in Kerikeri, Hamilton, Tauranga or Rotorua, sell as soon as you can while prices are still high.

[Bluekiwi]

You'll get a hundred different opinions on what will happen in six months. Many will be close, others way off but only one of them will be absolutely right. What ever choice you make hindsight will be the only measure of its success.

You're an idiot.

[Frezzinghot]

Too late you missed the boat.

If you are going to sell, do it straight after, say October or November.

Or have a go early next year.

Now is the worst of times.

Anytime from 2015 to mid 2016 you would be getting 20% more for something decent

Paul in your opinion has the time come to be asking for 5-10% discounts on asking? I am thinking of entering the market again with a B&H before the election and hoping to bag a bargain. Any thoughts?

FH

[Bluekiwi]

I have been thinking the same, I would work on a 7% yield and try for a home and income maybe.
Just don't go above that yield, and you will most likely be offering 20% to 25% below what they want.

[Bluekiwi]

You'll get a hundred different opinions on what will happen in six months. Many will be close, others way off but only one of them will be absolutely right. What ever choice you make hindsight will be the only measure of its success.

you views are a little bit silly, what you just said means nothing really