Property Council ACT and Capital Region Executive Director Ashlee Berry said the slow journey time and need to modernise the corridor was holding back the ACT's economic potential and limiting sustainable transport choices.
"Senator Pocock is right - Canberra can't wait any longer for serious investment in its only intercity rail link," she said.
"A nationally significant corridor like Canberra-Sydney deserves a coordinated, three-level partnership approach that builds on the productive work already underway between the ACT and NSW governments.
"Upgrading the line would strengthen national productivity by better connecting Commonwealth agencies, businesses and workers with Sydney, Australia's largest economic centre.
"As the home of Australia's national institutions, Canberra should have infrastructure that reflects its role in the national economy."
Ms Berry said the ACT and NSW governments have formed a joint working group to advance improvement options, and the opportunity is there for the Commonwealth to join as a partner.
"A faster, more reliable Canberra-Sydney service would boost productivity, support housing growth and give people a real low carbon alternative to driving or flying.
"The Commonwealth's investment in Newcastle-Sydney highspeed rail shows what is possible. Extending that long term ambition to the Canberra corridor would deliver similar benefits for another major region.
"We need a staged upgrade program starting with straightening and modernising the existing corridor from Canberra to Goulburn and Yass, making it highspeed ready and setting up future improvements to Sydney," she said.
"This would be a sensible way to deliver early wins while preparing the corridor for future higher speed operations.
"We look forward to continuing constructive discussions with all levels of government to move this important project closer to delivery," Ms Berry said.
