Canberra's last property downturn took place in 1996, when the Howard Liberal government was elected. Public sector cuts resulted in fewer jobs and many people ended up selling their houses into the face of a soft market. Vacancy rates increased as owners moved out and the market for new tenants fell.
Louis Christopher of SQM Research has said that rents in Canberra are falling. The implications are interesting and suggest stagnancy or underperformance in house prices. Of course this may change if a new free spending government is re-elected next election.
I am curious about what ACT residents think will happen to Canberra property prices?
Christopher's research can be found here: http://www.sqmresearch.com.au/graph_median_rent_weeks.php?region=act::Canberra&type=c&t=1
Disclaimer: I lived and studied in Canberra. I love the place even though I own nothing there.
Louis Christopher of SQM Research has said that rents in Canberra are falling. The implications are interesting and suggest stagnancy or underperformance in house prices. Of course this may change if a new free spending government is re-elected next election.
I am curious about what ACT residents think will happen to Canberra property prices?
Christopher's research can be found here: http://www.sqmresearch.com.au/graph_median_rent_weeks.php?region=act::Canberra&type=c&t=1
Disclaimer: I lived and studied in Canberra. I love the place even though I own nothing there.