As the nation awaited the outcome of the recently concluded poll, investors seemed to have adopted a cautious approach towards the real estate market in the city and neighbouring areas.
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The slow spell comes at a time when the real estate market has been feeling the impact of property downturns and stricter lending by the banking sector.
Peter Mylonas, managing director of Peter Mylonas Property Solutions, said people were waiting "for some kind of leadership. Industry, as a whole, is going to watch in which direction they are going to go.
"The investors and buyers are currently waiting for the election outcome before they decide to start investing in residential properties," he added.
Brett Storrier, licensed real estate agent at Angella Storrier Real Estate, said the real estate market in the city was currently experiencing a "slow phase".
"People are more cautious around elections and want to see what happens," said Mr Storrier.
Elaborating on other reasons, he said, "The property market had already softened a bit prior to the election announcements."
The banking sector has also tightened their lending, affecting people's affordability. "We are now seeing [fewer] buyers from Sydney who were very prevalent in recent years. They are being cautious," he added.
However, he was hopeful the market would pick up pace soon. "There have been more offers and agreements of late. Once the election is over, it might generate more activity," he said.
Barry McEntee, principal at First National, said elections always caused uncertainty.
"Once the elections are over, things are expected to improve as people will have clarity," he said.
"There are lesser number of transactions for residential properties. One of the biggest areas that has influenced the market slowing down is a lack of investors."
In the year 2016-17, "60 per cent of the properties we were selling were through investors in Sydney. Now, we are sitting at around 15 to 20 per cent," he said.
The real estate market of the neighbouring areas of Yass and Braidwood have not remained untouched.
Sales agent Mitchell Smithers, of Ray White Braidwood, said the residential property market had slowed down a bit as people were being cautious.
Deb Johnson, director of Yass First National Real Estate, was of the opinion that, despite the slow pace, there were still buyers in the market.
"There has been a slowdown because of elections and, also, it is the end of the financial year." In general, supply was still down in Yass, "so the demand is reasonably strong," she added.
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