Canberra Market Update: Auctions, Listings & Election Policy Talk

Welcome back to the Luton Weekly Update with Nick Paine and Craig Sheargold! As we edge into mid-April, nestled between the Easter and Anzac Day holidays, the Canberra property market is moving through an interesting phase – a mix of steady momentum and strategic waiting. Let’s dive into what’s been happening in Lutonland and what’s around the corner. 👇

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Weekend Auctions: 6 of 12 Sold

Last weekend, 12 properties went under the hammer across Canberra – and 6 of them sold, with two more in active negotiation.

“One with the top bidder, and one with a new party,” Craig shares. “We’re optimistic a few more will fall into place.”

With a long weekend in play, there was a slight drop in open home attendance, but sales meetings remain upbeat.

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Exhibition Numbers Down, But Under-Offer Activity Up

While agents noticed slightly fewer attendees at open homes, 19 properties are currently under offer, reinforcing that buyer interest is still bubbling along.

And despite a slower start to April listings, 33 new properties have hit the books so far – a solid figure considering the holiday interruptions.

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May Will Be Massive: 5 Saturdays & Post-Election Momentum

Nick predicts a huge surge in listings as sellers move past Easter and wait out the looming Federal Election.

“May has five Saturdays – just like March – which gives us more room to run auctions. Expect a flurry of listings as vendors try to finalise deals before June 30.”

Whether it’s tax considerations, new employment contracts, or simply wanting to lock in a move before winter, EOFY is a driver for many sellers right now.

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Election Promises: What Do They Mean for Property?

Both major parties have revealed housing-related policies in the lead-up to the election:

• Labor’s Home Guarantee Scheme – set to remove regional price caps and inject $10 billion toward building 100,000 affordable homes over 8 years.

• Coalition’s Mortgage Interest Deduction – allowing eligible buyers to claim interest payments on up to $650K of their loan, potentially saving around $11,000 annually.

Craig weighs in:

“Policies like these often bring buyers to market earlier than planned… but unless they’re coupled with real solutions to the supply issue, they don’t truly fix affordability.”

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Supply vs. Demand: The Ongoing Struggle

Craig, with decades in the industry, emphasises the importance of focusing on housing supply, not just short-term incentives.

“More demand without more homes just pushes prices up. We need structural change, not just political promises.”

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Something Lighter… Bring on the Footy!

Before signing off, Nick shifts the tone:

“Only a couple of days in the next two weeks without a footy match. I’ll be horizontal on the couch for most of it!”

There will be a break in programming next week, but the duo will return in time for the final lead-up to the election with more property insights.

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Final Thoughts

Despite some market hesitation during the holiday period, Canberra’s property market is well positioned for a strong May. Whether you’re buying, selling, or investing, now’s the time to plan your next steps before the EOFY crunch hits.

For tailored advice or to book an appraisal, contact your local Luton agent today.

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Stay Informed

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