Canberra property market soars while Australia sees ‘drawback’

The property market is experiencing a “drawback” in buyer activity and “high levels of distress” in rental activity – except for Canberra, REA Group Chief Economist Nerida Conisbee says. Ms Conisbee told Sky News the capital city’s success with buyer activity, which is up about 16 per cent from last year, is “probably” driven mainly by growth in government employment. “It is a government-run town and it does make it a fairly stable market,” she said. “At the moment, when you compare Canberra to pretty much the rest of the country, it is behaving a lot different.” Image: Getty

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