Real estate markets across the country have improved, with a “quadruple whammy of positive developments” credited with boosting buyer confidence. Auction outcomes have improved and developers are poised to re-activate stalled projects.

Buyers’ agent Rich Harvey from property buyer says the Election result, increased borrowing capacity from the APRA changes and the prospect of interest rate cuts have had “a dramatic effect”.

Just over 2,000 homes were taken to auction last week with a clearance rate of 63%, the highest since September, according to CoreLogic. Performance across all regions improved but was most notable in Sydney, with a clearance rate of 70% from 697 auctions.

AMP Capital’s Shane Oliver says the first-home buyer deposit scheme, the end of threats to negative gearing, APRA’s move to lower hurdles to getting loans and prospects that the official interest rate will be cut, created a “quadruple whammy of positive developments”.