Gross rental yields were hit, down 3.5 per cent for units and 5 per cent for houses in the June quarter.

But new figures out on Thursday morning from Australian Property Monitors are a sign of confidence in the local economy, APM senior economist Andrew Wilson said.

"A pick-up in the Canberra economy, together with low interest rates, is equating to more buyer activity and less pressure on rents," Dr Wilson said. "Yields are falling as rent's falling, [it's] bad news in terms of yield, but good news in terms of capital growth."

Median asking rent for units is now $410 a week, with home rents down 1 per cent on the quarter, and the year, at $480 a week.

Despite uncertainty over the election date and a possible change of government – and public service job losses to follow – Dr Wilson said Canberrans were enjoying the cyclical factors in their favour.

"I think people are taking advantage of a revival in the market while there are low interest rates," he said. "We need to get those job cuts before there is the effect on the market, rather than the speculation of the job cuts."

The Coalition plans to reduce the Australian Public Service by 12,000 staff over three years by natural attrition. The Australia Institute has estimated 5400 of these lost jobs would be in Canberra.

The latest ACT unemployment rates in May were 4.1 per cent in trend terms, down from a revised 4.2per cent figure in April.

Dr Wilson's views would appear to be supported by recent property figures from RP Data that show the number of new ACT listings in June was 8 per cent higher than the same time last year, one of the biggest rises of all states and territories.

RP Data found an extra 554 properties advertised for sale in the month to June 23, with only Western Australia, with a 16 per cent rise, achieving superior listings growth.

The recent listings increase meant there were 2804 ACT properties on the market, still 4.2 per cent less than the same time last year.

The national average on total listings is an 8.4 per cent decline for the period, with listings increasing only in Western Australia.

Real Estate Institute of ACT director Craig Bright said the recent listings growth was not a surprise but confidence was still hampered by the political cycle.

"We're not sensing people are leaving Canberra – I think it could be that some invest properties are coming on the market, [and] there are many new apartments coming on to the market," Mr Bright said.

"We are clearly being affected by the upcoming federal election, and that's having a fairly significant effect on confidence and certainty – a) on when the election will be, and b) on the result."

Mr Bright said while increased activity was expected after the election – which must be held by November 30 – buyers could take advantage of flat prices now.

"Australia has the lowest interest rates since the 1960s – even though there's a negative sentiment out there, it's a good time to buy," he said. "I think once we're through it – irrespective of who wins – I certainly don't think Canberra will boom, but I think there will be somewhat of a recovery at that point."