Impact of WA senate election

S

Sam Yue

Liberal has got 2 seats and mining magnate Palmer from PUP got 1 seat. If liberal can not get the third seat, it will need Palmer's support to abolish carbon and mining tax. However, after some research, it is quite clear that Liberal and Palmer share same interests on this issue. So I believe the labour's two taxes will end soon after July.

Isn't that good news for Queensland and WA properties?

BTW, Palmer must be the greatest entertaining politician in the world that I could not help watching his videos on youtube till late last night. The following is his mtv :D:

'Palmer the Billionaire' Music Video!

Other videos:
http://www.abc.net.au/7.30/content/2013/s3894697.htm
http://www.abc.net.au/news/2013-10-31/clive-palmer-wins-fairfax/5061740
http://www.news.com.au/lifestyle/he...-campbell-newman/story-fniym874-1226763212299
https://www.youtube.com/watch?v=vdRRktPIKbE
 
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Hi Sam, a rusted-on labor supporter of 50 years who is a close family friend and voted Labor all his life in Qld for nearly 50 years said to me 2 days before the WA election, 'Now, that Clive Palmer, I LIKE him!!!!'

This is the first time I saw Palmer's music video and I think I understand now why so many people voted for him (PUP is always ONLY about Clive Palmer, I don't know any other candidate name from PUP, do you? ), he sings in his video that he doesn't like Liberal, Labour or Greens. ;)
 
thatbum said:
I don't think it will make any appreciable difference either way.

Not by itself.
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thatbum, abolishing mining tax and carbon tax will make the mining industry and other energy intensive industries have more profit, and thus encourage them to invest new projects, which means more employment and higher salary. Then more people will like to go to those places, which means high growth of population. Those are all positive for property market.
 
Beanie Girl said:
Hi Sam, a rusted-on labor supporter of 50 years who is a close family friend and voted Labor all his life in Qld for nearly 50 years said to me 2 days before the WA election, 'Now, that Clive Palmer, I LIKE him!!!!'

This is the first time I saw Palmer's music video and I think I understand now why so many people voted for him (PUP is always ONLY about Clive Palmer, I don't know any other candidate name from PUP, do you? ), he sings in his video that he doesn't like Liberal, Labour or Greens. ;)
Click to expand...

Beanie Girl, I don't know any other candidate name either. I like the way he fights. If he had always done thing ethically, I would be his fan.
 
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Sam Yue said:
thatbum, abolishing mining tax and carbon tax will make the mining industry and other energy intensive industries have more profit, and thus encourage them to invest new projects, which means more employment and higher salary. Then more people will like to go to those places, which means high growth of population. Those are all positive for property market.
Click to expand...

Possibly, but another PUP senator getting in is still pretty far off from abolishment of those taxes.

Even if somehow those taxes were gone tomorrow, I imagine it would take some time for those effects to trickle down into an appreciable effect on housing prices.

I would spend my time looking at more direct factors like the numbers of sales and listings.
 
thatbum said:
Possibly, but another PUP senator getting in is still pretty far off from abolishment of those taxes.

Even if somehow those taxes were gone tomorrow, I imagine it would take some time for those effects to trickle down into an appreciable effect on housing prices.

I would spend my time looking at more direct factors like the numbers of sales and listings.
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Thatbum, I agree that it takes 1 year or so for those effects to cause higher rental rise. But it can directly lead to higher market confidence, which no one knows how early (or late) it will happen.

Closely watching numbers of sales and listings is helpful. But those changes can be caused by short term driver, such as an one off project. And I feel it is really hard to interpret those numbers without knowing the markets drivers.

If you are buying interstate, it is hard to get a feel of the market without being there. When all the sales data points to a hot market, you probably losed the best time.

Anyhow, the best time to buy is always now. I just bought an half million IP in BCC and I will not be in the market for at least 1 year. Somersoft fellows should make decision and take action quickly and should not regret after looking backwards later. :D
 
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