ACT canberra general

Yes!

I was just saying the same thing to my wife. After this brutal winter - I'm looking forward to spending time on the deck with the bbq

 

...and hopefully the wife

 

I'm guessing with an Election looming and a (potential) change in government however, there will be ramifications for jobs within the public sector? How long does it take after a change in government for the public sector job shifts to take place?

 

Depends. If the same govt is returned it is generally business as usual to a certain extent. If a new govt they generally want to make an impact and will generally look to cut jobs. Sometimes the negative sentiment can start well before the election as was the case at the last election as people were aware there was a high chance of a govt change. The Libs were quite open about their plan to slash jobs...

 

If that did happen, what is normally the lag on jobs: 3 months, 6 months, 12 months until it filters through to the property market?

 

Depends. In 1996 there was a big impact on the property market...not so much in 2007. 2013 impact on jobs and sentiment, however prices didn't crash, they fell a little, but was pretty flat. Rental market crashed, I think this had a lot to do with oversupply issues as well.

 

Depends what you mean by lag!
Last time the freeze started immediately in caretaker mode and then has continued on almost to this day - close to two years. There's only recently some ads coming up in the APS.
I wouldn't hazzard a guess as to when the effect on the property market is - there are too many factors. For example, if huge public sevrice cuts were discussed pre-election again and the party saying that won office AND they put them into practice, then the effect could be very swift since many of the age redundancies and low hanging fruit have long since been "picked"/thwacked off the branches and any more would be immediate.
But if there was a government with a stronger public service mantra again, followed by a cutting one, then potentially the effect could take longer.
But there's more to Canberra than just that - so the local RE market, consumer sentiments, jobs growth, inflation, etc. have as much (possibly more?) influence.

 

hmm not a great confidence booster - More Canberrans going than coming

at least auction clearance rate is goin up as per this article

http://www.domain.com.au/news/canberra-home-values-fall-in-year-since-august-20150901-gjccu9/

 

Auction may be, just may be coming off the boil

 

Which one are we supposed to listen to?
http://www.smartpropertyinvestment.com.au/news/14412-bush-capital-posts-surprise-performance

 

House sales run hot across the territory

what i see in my suburb is inline with that..

 

I've been watching Dunlop as I potentially have a property to sell - half the listings are auctions which is unusual. House two doors down sold by auction a month or so ago for what I consider a good price.

 

Yep - auctions galore in Canberra these days. The vast majority of my clients are purchasing/selling via auction. I'm not sure what prompted this shift- but it seems to have only recently occurred.

 

We had an agent attached to our Ngunnawal PM call us and ask if we'd consider selling. I thought they were dreaming when they told me what they'd list it for, but maybe they were onto something!

 

? More or less than what you expected?

 

sorry, about 50k more. mind you he may well have been talking it up to get a listing. Doesn't really matter because we're not selling.

 

Properties in Gungahlin have gone up because of all the talk about the light rail infrastructure, which when developed will be very convenient to residents travelling to the city. Prices have moved up according to my source.

 

Hi Canberrians,

Just curious, whats your opinion of Florey (canberra) as a suburb?

Also whats general view on house vs townhouse(with decent land entitlement for each unit ie 600sqm).


-Regards

 

Florey is close to the mall - so well located. I'd go a house over a townhouse. Nemo and Simon will know more about Belco.

Cheers

Jamie

 

Thanks Jamie,

Just that this particular townhouse has all the features we are looking for like sunroom, private front/backyard with a decent land entitlement for that unit of 600k with just 5 units in total of 4500sqm land.
What do you think is the main drawback of townhouses?