Agent view: Why the elections don't mean a lot in Canberra's real estate markets

While politics and economics are two separate things; the economics of politics in Canberra is one and the same.

So what do the elections mean for our real estate markets in the nation’s capital? In reality, not a whole lot.

With the ACT population nearing 400,000, the critical economic fundamental of population growth for our nation’s capital is trending above the national average at 1.4 per cent; in real terms, an increase of some 5500 people in the last year.

The fact that the federal cuts have all been made, the ACT has already realised its budget pain.

Other supporting fundamentals including stable employment, very low residential vacancy rates, continued low interest rates and an upswing in buyer activity in late 2015 carried forth to the present day mean we are set for market growth in the ACT.

The urban renewal and economic diversification of Canberra sees our economy in a great position. Major infrastructure initiatives such as the light rail and new hospital support our vibrant private and education sectors.

Our property market is strong; and our community’s lifestyle, employment, education, event, transport and housing options are of key importance for our continued growth. This is what’s special about our city and gives us a sense of our exciting future.

Craig Chapman is principal of McGrath Estate Agents Belconnen and Gungahlin