Global Power | Local Knowledge | Uniquely Personal

Canberra property market unaffected by election

The election had a minimal impact on the Canberra market.

The Canberra property market was mostly unaffected by the Australian election in 2013, new data has revealed. 

An Australian Property Monitors report indicated that Canberra was the only capital city to record negative house price growth in 2013. 

Colliers International ACT state chief executive Paul Powderly explained job security had an impact on the market, as people were worried they could lose their work. 

But Real Estate Institute of the ACT president Michael Kumm stated that despite the reported lack of confidence, there was strong competition for houses because of factors such as low stock numbers and a high proportion of units. 

''It has been a pretty good year for selling - the election hasn't affected the market at all. The reality is we have a low stock base at the moment," he said. 

Property values in Canberra fell during the September 2013 quarter, data released by the Australian Bureau of Statistics recently showed. 

In contrast, the performance of the property market across much of the rest of Australia was strong in 2013. 

Posted by Ravin Chatlani

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now