The short answer is not much, at least not for the average person. Election or no election, life goes on. People change jobs, move towns, and carry on with their day-to-day living. Those who have to will sell their houses, and those that need to will buy.

For investors, however, there’s a bit more at stake.

In the past month inquiries from investors have been on the rise in Central. In particular, landlords are looking for entry level homes that will offer a good yield.

There’s a perception that property values have levelled off, inflation has stopped rising, and that further interest rates hikes will be unlikely. The banks are also signalling that the peak volatility is behind us, with two- and three-year mortgage rates easing somewhat.

These conditions give investors some confidence to return to the market, and just as well as there’s a real shortage of rental properties in the whole Lakes and Central region.

Healthy homes and other legislation affecting landlords have had some unintended consequences. Some have opted out of being landlords and others have pivoted to AirBnB or other short-term rentals. In tourist areas like ours that makes a lot of financial sense for the owners – but it also means fewer houses for locals to rent.

An increase in migration since the borders opened up post pandemic has also put pressure on housing supplies.

This is very noticeable in the seasonal work sector, and it will be interesting to see how our region comes come the new season. Many horticulturalists are having to build or supply accommodation for their workers. These, rightly, must meet certain standards, so the sector is facing increased costs.

Land, too, is in demand and sections have come back in value over the last few months. With building costs having risen sharply in the last few years there’s a sense that there’s no point in waiting any longer.

Nevertheless, there’s still a cohort of investors waiting quietly in the wings to see how the election turns out. They’ll be hoping to see some policy changes come into effect after October. Some of the political parties are promising to relax Brightline test rules, change some of the tenancy requirements, and rework tax deductibility.

It’s unlikely any changes will be immediate, however, so now is as good a time as any if you are considering real estate investment.

Come in for a chat if you are thinking of getting into property investment locally.