What to expect in the autumn property market

WATCH: What to expect in the autumn property market

Transcript

00:00Well, the leaves haven't quite started changing color here in Canberra, but the property market

00:04is certainly taking a bit of a turn for the autumn season.

00:08This season, of course, will be characterized by the federal election.

00:11There's always a bit of a slowdown in the market here in Canberra when that happens,

00:15but a lot of agents think that this federal election may not have long-term knock-on effects

00:19like some have in the past.

00:21There's a couple of policies floating around that could have an impact on the market.

00:25One is the foreign investor ban, but agents that I have spoken to said that that ban,

00:30which kicks off in April 2025, is unlikely to have much of an impact on buying in Canberra.

00:36It's only about 0.2% of the market in our city.

00:41The other policy that may affect the market is the coalition's plan to scrap 36,000 public

00:46servants, although agents have told me that seasoned Canberrans understand that APS roles

00:52and contract roles seem to be on a never-ending cycle when it comes to election seasons, so

00:58people are pretty happy to buy and assume that they'll still have a job in the region.

01:02We know that the Canberra market was certainly a buyer's market in spring and summer just

01:06gone.

01:07That's changing a little bit, but people are still quite gung-shy, which means that for

01:11buyers who do have their finances in order, it's still a really good time to get in.

01:15One agent told me that auctions are maybe not the way to go for sellers this season

01:20because there's still not enough competition in the market to really make it heat up, so

01:23private tradies seem to be what people are opting for the most.

01:27It's going to be an interesting few months to see what happens.

01:30It depends a lot on what gets announced in further policies pre-election, and of course

01:34on what stock reaches the market before winter comes as well.