Outer suburbs dominate Canberra’s top growth areas
Six suburbs within the Belconnen and Weston Creek districts feature in Canberra’s top 10
performers for the year, achieving double-digit growth in median house price.
The realestate.com.au data looks at suburbs in Canberra’s metro area with at least 30
houses sold for the 12 months to 31 May.
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Spence topped the list with 15% price growth for the period, rising to $620,000.
Fellow Belconnen suburb Latham came in second, with a rise of 14% to $587,500, while Macgregor
came in ninth with a 10% price rise to $540,000.
In Weston Creek, Duffy took third spot with an increase of 13% year on year to a median
sale price of $732,000. Nearby Chapman came in fourth, also rising 13% to $907,500, and
Holder (7) also performed well with 12% growth to $671,000.
Yarralumla (6) was the sole inner-city representative in the top 10, rising 12% to a hefty
median sale price of $1.57 million for the Australian capital. Just 3.5km from the CBD, it’s
one of Canberra’s most prestigious areas.
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Southern suburbs Calwell (5) and Richardson (8) in Tuggeranong and Farrer (10) in Woden,
rounded out the list.
1. Spence: 15%, $620,000
2. Latham: 14%, $587,500
3. Duffy: 13%, $732,000
4. Chapman: 13%, $907,500
5. Calwell: 12%, $628,000
6. Yarralumla: 12%, $1.57 million
7. Holder: 12%, $671,000
8. Richardson: 11%, $550,000
9. Macgregor: 10%, $540,000
10. Farrer: 9%, $885,000
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Many of the suburbs featured in the top 10 have a range of housing stock that would appeal
to families, first home buyers and investors — particularly older-style houses on large blocks
with three or four bedrooms.
Being at least 10-11km from the Canberra CBD, the sprawling Belconnen district is an
affordable alternative, offering backyards, leafy streets and family-friendly amenities within
a reasonable commuting distance.
A little further afield, about 13km southwest of the CBD, Weston Creek is another
established area that attracts buyers seeking more space for their money.
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With many of the top 10 close to, or below, Canberra’s median house price of $670,000, it
would suggest that affordability and growth potential are driving their rising values.