The biggest winners from the Federal Election
The ASX All Ordinaries index jumped to an 11-year high immediately after the Coalition won the recent Federal Election. It was boosted in particular by share price spikes in the big banks and health insurers. Whether these gains are sustainable remains to be seen.
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INVEST WITH MONTGOMERY
Michael O
:
Thoughts on what the Coalition’s win means for the residential property market? Are we close to the bottom or prices likely to drop further in Sydney and Melbourne?
Roger Montgomery
:
Yes. Everything we have been writing and saying in the press and media respectively, and here at the blog, is that we are very close to a low point or we have already seen it. The massive spike in Auction clearance rates the weekend after the election suggests also that loan applications to Banks must have increased too.
Michael O
:
Thanks Roger. Appreciate the reply.