Canberra house prices hit all-time high in June: APM

Canberra's house prices grew over the June quarter to their highest point ever, according to the latest housing market report from Australian Property Monitors.

"The Canberra housing market has recorded solid growth over the June quarter, which follows a subdued period earlier in the year," the report says.

"Median house prices rose by 1.8% over the June quarter, to be up 4.2% over the 2013 financial year. Canberra’s median house price is now at an all time high of $576,248."

The unknown equation in the Canberra market is the impact of the federal election and any possible cuts to the public service.

However, today regular observer Terry Ryder wrote that "Canberra generally has the most consistent city market in Australia. It often has the lowest unemployment and the highest average incomes in the land. That provides a solid under-pinning for property markets."

Howver, Terry Ryder also goes on to say that the ACT needs to "stand by for some earth-quaking changes" as a result of the upcoming federal electionand that "whoever wins the election will put the cleaners through the federal public service, particularly if we have a Tony Abbott-led government on Monday morning."