As Australia's real-estate prices fall at the fastest rate in a generation,...
SYDNEY - As Australia’s real-estate prices fall at the fastest rate in a generation, some investors are buying property stocks in a bet that the opposition Labor Party will win Saturday’s national election.
In a country where elections rarely move stock prices or significantly impact the business outlook for either listed or private companies, investors are watching the vote closely. ) The thinking is that winding back dividend rebates on corporations would remove a modest price discount previously applied to REIT payouts because they never attracted the rebates. This has in part contributed to parts of the real-estate investment trust sector outperforming the wider market.
Given the broader downturn in the housing market, the Labor plans have not translated into a rise in share prices at developers.
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