The federal election has been confirmed for 21st May 2022, right in the middle of the June quarter. A forthcoming election often creates a sense of uncertainty, as such, many people put major spending decisions on hold, deciding instead to take a wait and see approach. To date, the focus of both parties appears to be on helping more people enter the housing market; there have been no substantial announcements targeting current homeowners or renters. As such, we may see people who are already in the market forge ahead with their existing plans rather than placing them on hold until we have an outcome. There is certainly a great potential for this in Melbourne, and the cities that are seen to be at, or close to, their pricing peaks, as vendors will be conscious that if they hold off marketing their property, they may end up selling in slightly less favourable conditions. Some may also make decisions based on the continued discussions of interest rates starting to rise later this year. Each of these factors will likely see stock levels remain at inflated levels – they’re currently around 8% higher than the 5-year average – for the near future.