With new data out showing ACT property prices have started to tumble, it's feeling a bit like 1996 all over again for many Canberra homeowners.
ABBOTT'S CUTS ALREADY HURTING CANBERRA HOMEOWNERS
New property data shows Tony Abbott’s cuts to Canberra are starting to bite, with house prices falling 2.3 per cent in October.
While property prices rose in other capitals, an RP Data report shows the price of Canberra homes fell below the national median.
Joe Hockey joked about driving property prices down before the 2013 election, saying:
“There is a golden rule for real estate in Canberra – you buy Liberal and you sell Labor.”
– Press conference, 31 May 2013
While we all support affordable housing, this is best achieved through smart policies that manage supply, not through massive job losses and collapsing consumer confidence.
Joe Hockey’s budget cuts have seen thousands of Australian public servants made redundant since the federal election, including 3,000 staff at the Australian Taxation Office alone.
The Government plans to strip 16,500 staff from the public service over the next two years, with between 6,000 and 7,000 of those jobs being lost in Canberra.
When the Liberals were last in power, Canberra property prices fell as huge public service cuts caused a collapse in employment and consumer spending.
Joe Hockey might think it’s funny to drive down local property prices, but trashing Canberra’s economy is no laughing matter.
TUESDAY, 4 NOVEMBER 2014
MEDIA CONTACT: JENNIFER RAYNER 0428 214 856