Some of Sydney's most marginal seats are facing property price falls of up to 15 per cent, turning the housing market into a major election issue amid fears values will continue to tumble.analysis of house prices by electorate – derived from CoreLogic data – shows the Liberal-held seats of Bennelong and Banks have experienced the steepest falls of the city's electorates, tumbling by 14 per cent in the past 12 months.
Labor-held seats in the city's west have taken a hit, with Paramatta, Blaxland, Barton and Watson all seeing price falls of between 11 and 12 per cent. Peter Lewis from Essential Media said housing affordability was being mentioned in his organisation's polling, with many swinging voters still concerned about their ability to rent or buy a home.
In the north, Liberal MP John Alexander said falls in his seat of Bennelong were inevitable after witnessing prices in suburbs in his electorate grow by 80 per cent over six years. He said in Liberal-held seats, there may be a focus on the impact of Labor's policy to clamp down on negative gearing and how this could affect future changes in house prices.
Source: News Formal (newsformal.com)
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