Is spring coming in Australian housing market? Harry Triguboff, the real estate alligator, expects prices to rise and Meriton cancels a 10 per cent discount on thousands of apartments. And after the election results, buyers from China have begun to try.
As Australian financial regulators ease restrictions on loans and Unionparty government offers preferential policies to support first-time home buyers entering the housing market, more and more people are optimistic that Australian house prices will see a wave of rises.
Harry Triguboff, the boss of Meriton, a real estate company, said demand for apartments soared after Unionparty won the election unexpectedly. As a result, he cancelled a 10 per cent discount on Meriton`s thousands of apartments on the east coast of Australia.
Triguboff, one of Australia`s most famous real estate developers, is known as Harry, a tall building, and expects to sell 30 apartments a week. Meriton sold only five apartments in January because of falling house prices.
(photo source: daily Mail)
Yesterday, financial regulators relaxed lending restrictions on first-time home buyers, and official interest rates are also expected to fall in an effort to inject new life into the housing market.
Triguboff expects house prices to rise as buyers have been snapping up their apartments since the election. "buyers didn`t know if they should buy it before, but when the election results came out, they all bought it. Labour`s policies would make people lose money, and no one would want to lose money."
(photo source: daily Mail)
After the Australian Reserve Bank hinted that it would cut interest rates, Triguboff believes interest rate cuts will come as soon as two weeks. "I think interest rate cuts are very good and will be of great help to the weak real estate market. It will give people hope or reason to buy a house, no need to quit, no more hesitation."
Triguboff also said buyers from mainland and Hong Kong bought apartments at Surfers Paradise after the election results.
