By election month, prices were on average 6% above their pre-campaign level, against 7% in ordinary periods. A year after polling day, the gap was similarly modest: 15.5% versus 12.3%. Go Tian said the difference is small, \u201csuggesting prices follow the market\u2019s underlying trend through elections.\u201d<\/p>\n
Sales were also little changed before a vote, up 0.7% compared with 0.9% in ordinary periods. \u201cThere\u2019s no sign of buyers and sellers stalling before the vote,\u201d he said.<\/p>\n
The clearer shift comes afterwards. In the year after an election, sales averaged 11.5% above pre-campaign levels, compared with 2.4% in ordinary periods. Volumes rose after seven of the 11 elections, and homes sold about two days faster.<\/p>\n
Weak lead-ups offer mixed signals<\/p>\n
Housing policy dominated the 2014 and 2017 campaigns, and sales were down 8% and 13% by election month. The 26% fall in 2008 was driven by the global financial crisis.<\/p>\n
A year after those three soft lead-ups, sales ranged from a 13% fall to an 11% rise, \u201cso history doesn\u2019t promise a bounce\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"By election month, prices were on average 6% above their pre-campaign level, against 7% in ordinary periods. A…\n","protected":false},"author":2,"featured_media":642550,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[111,43,139,69,315118,315120,315119],"class_list":["post-642549","post","type-post","status-publish","format-standard","has-post-thumbnail","category-new-zealand","tag-new-zealand","tag-news","tag-newzealand","tag-nz","tag-nz-election-house-prices","tag-nz-property-policy","tag-reinz-house-sales"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/642549","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=642549"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/642549\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/642550"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=642549"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=642549"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=642549"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}