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The ASX Property Sector Is Going Nuts

Nearly everything related to property on the ASX is having a great time after the Federal Election result.

Nearly everything related to property on the ASX is having a great time after the Federal Election result.

What’s Going On?

The Liberals and Nationals are seen as more business friendly compared to Labor. So the surprise win has left investors trying to figure out what the shelving of negative gearing will mean.

Clearly the market feels it’s a great positive for many of the property businesses.

For example, the property portal leaders of REA Group Limited (ASX: REA) and Domain Holdings Australia Ltd (ASX: DHG) are up 3.25% and 0.3%.

In the mortgage broker sector there have been some gains too. The Mortgage Choice Limited (ASX: MOC) share price is up 12.6%, the Australian Finance Group Ltd (ASX: AFG) share price is up 6.25% and the Yellow Brick Road Holdings Ltd (ASX: YBR) share priec is up 4.7%.

House builders are also receiving a sizeable boost. The Stockland Corporation Ltd (ASX: SGP) share price is up 4.8%, the Mirvac Group (ASX: MGR) share price is up 2% and the Finbar Group Limited (ASX: FRI) share price is up 0.6%.

Construction businesses are seeing green too today. The Boral Limited (ASX: BLD) share price is up 3.5%, the Brickworks Limited (ASX: BKW) share price is up 0.2% and the CSR Limited (ASX: CSR) share price is up 2.75%.

The businesses that sell items to go in our homes are also on the up today. The JB Hi-Fi Limited (ASX: JBH) share price is up 5.2%, the Harvey Norman Holdings Limited (ASX: HVN) share price is up 3.8%, the Nick Scali Limited (ASX: NCK) share price is up 3.1% and the Beacon Lighting Group Ltd (ASX: BLX) share price is up 4.3%.

Are Boom Times Ahead?

I’m not sure that all of these businesses are suddenly going to turn this performances around in the last month of FY19, though FY20 could be a little better. It’s funny how sentiment can quickly turn around. A key point will be whether banks loosen their lending again.

I am not convinced that the current high prices are good value. Time will tell whether the economy turns around.

I do think that the reliable and proven ASX shares in the free report below could be good options to consider over most of the businesses I’ve mentioned in this article at the current prices.

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