CANBERRA real estate agents are bracing for an uneven year with a federal election tipped to slow sales for two months when it is announced. But they are optimistic the property market will lift in 2013 after a year of stagnation in 2012.
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The chief executive officer of Independent Property Group, John Runko, said low interest rates and a bipartisan commitment to fewer public service job cuts had restored confidence.
''Canberra is different to other markets and we are affected by political uncertainty,'' Mr Runko said.
''When we get to a federal election everybody will sit on their hands for one or two months - but when the election passes, everybody realises the sky hasn't fallen in.''
He said 2012 was a pretty good year with the 10 most expensive homes sold by his agents all breaking the $1 million price tag.
''We finished on a bright note and I'm predicting steady, modest gains in 2013, but people are more cautious, having gone through the GFC.''
Former real estate agent Peter Blackshaw said 2012 started slowly before gaining momentum.
''November had more sales than any other month with 605 homes sold,'' Mr Blackshaw said.
January had the fewest, with only 370 sold.
''Bizarrely, the average house price finished at the same number at the end of last year as it did in 2011.
''The average price for a home, not including units, was $550,000.''
Mr Blackshaw's figures differ to those released by the Real Estate Institute of Australia.
Average house prices dropped by 5 per cent over the June quarter to $494,125, according to the latest figures.
That was the largest recorded drop in capital house prices in almost eight years and made Canberra the only capital city to record a fall in median house prices.
But the median price of a Canberra unit rose 2.4 per cent to $420,000.
■ Most expensive house in suburb sold in 2012:
Yarralumla: 14 Weld Street, $2,090,000
Forrest: 34 Arthur Circle, $2,800,000
O'Malley: 1 Berbet Street, $1,900,000
Kambah: 94 Allchin Circuit, $1,295,000
Duffy: 62 Eucumbene Drive, $1,275,000
O'Connor: 54 Cockle Street, $1,240,000
Torrens: 18 Stevenson Street, $970,000
Amaroo: 9 Styx Close, $852,000
Stirling: 8 Tuckey Place, $830,000
Banks: 60 Forsythe Street, $821,000
Cook: 63 Mackellar Crescent, $800,000
Gilmore: 6 Edmond Close, $715,000
Theodore: 55 Callister Crescent, $675,000
Spence: 8 Leavold Place, $660,800
Higgins: 8 Nicholls Place, $550,000