Expats hoping to move into Australian property could find themselves with a greater choice than they had first thought, an expert has claimed.
Saturday's election resulted in a hung parliament and SQM Research founder Louis Christopher told smartcompany.com.au that he believes Australians will hold off buying property until a stable government is formed.
With fewer buyers on the market, sellers could be forced to lower their prices in order to attract the few who are still seeking to purchase Australian property.
He said that a lot of investors or would-be buyers would not hold off from entering the market just because the government is negotiating, but that many would if they felt the futures of their jobs were in doubt.
"The uncertainty seeps into a lot of decision-making," he added.
In the Labor Party's election campaign, it promised that it would invest $200 million (£115.4 million) into increasing the level of affordable Australian property in regional areas.
The party is now doing its best to gain support from members of the Green Party and the Liberals in order to gain power through the formation of a coalition.
Posted by Ravin Chatlani
