00:02The leaves might be falling in Canberra, but property prices aren't.
00:07I've had such a mixed response from different buyers I've met over the last week.
00:12I think the investors, there's a fair bit of fear there.
00:15But the home buyers, people still need to buy and sell homes.
00:19Stephen Thompson has been selling homes in Canberra for more than 30 years.
00:24He's closely watching the reaction to the government's proposed negative gearing
00:28and capital gains tax overhaul.
00:30I've had a few people sort of say to me, well it's not fair,
00:33they're actually taking away from the younger generation.
00:37With the changes still to pass through Parliament,
00:39it's the slow bleed of investors leaving the ACT market
00:43due to high rates and land tax posing a bigger concern.
00:47We've had so many investors leave Canberra and buy New South Wales Queensland
00:51because you're not getting the yields.
00:52I think they need to give people that want to invest a bit of an incentive to have a crack,
00:56as well as the younger buyers as well.
01:00The Real Estate Institute is concerned about knock-on effects for the rental market.
01:04Vacancy rate is around 1% and a healthy market's at 3%.
01:08So if investors did come back into the market,
01:12it's certainly very tight out there for renters.
01:15I think this will help to dampen rent price inflation.
01:19For investors nervous about the proposed tax changes, there's a simple message.
01:23Don't panic and just wait and see what the market sort of does.
01:27I sort of had one on Thursday, just adamant that she is selling everything.
01:33I said, well why don't you wait, just wait.
01:36I'm waiting for the hammer to drop.
01:37I'm waiting for the hammer to drop.
01:42I'm waiting for the hammer to drop.
01:43the hammer to drop.
01:43I thought, I said.
01:43Now, I'm waiting for the hammer to drop.
01:44The hammer to drop the need.
01:44I was waiting for the hammer to drop.
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