What is the average property price in Canberra?

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BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Canberra. If you'd like to learn more about us, you can check our presentation page.

What's the current average property price in Canberra?

As of September 2025, Canberra's median house price stands at $1.04 million, while units average $610,000.

The overall median dwelling price ranges between $861,000 and $901,000 depending on the data source, reflecting the mix of property types across the market. These figures represent a relatively stable market with minimal year-on-year growth.

Canberra's property prices reflect its unique position as Australia's capital city, with strong government employment providing economic stability. The market shows less volatility compared to Sydney and Melbourne, making it attractive for both first-time buyers and investors seeking consistent performance.

The Australian capital's property market benefits from steady population growth, limited land supply, and strong rental demand from government workers and university students. This combination creates a foundation for sustained price levels even during economic uncertainty.

Current pricing positions Canberra as more affordable than Sydney and Melbourne while offering better value than Brisbane in terms of amenities and employment opportunities.

How do prices differ between houses, apartments, and townhouses?

Houses command a significant premium over units in Canberra, with the median house price of $1.04 million representing a 70% premium over the $610,000 unit median.

What are the most expensive areas in Canberra, and why?

Griffith leads Canberra's premium property market with a median forecast of $2 million, followed by Campbell at $1.7 million.

The most exclusive suburbs include Deakin, Yarralumla, Red Hill, and Forrest, all commanding median prices well above $1.5 million. These areas benefit from proximity to Parliament House, Lake Burley Griffin, and the central business district.

Premium pricing in these suburbs reflects several key factors: historic character homes on large blocks, tree-lined streets with established gardens, access to elite schools and high-end retail, and prestige associated with political and diplomatic residents.

Inner North suburbs like Ainslie and Braddon also command premium prices due to their café culture, walkability to the city, and character architecture. These areas attract young professionals and empty nesters willing to pay for lifestyle and convenience.

The premium market benefits from limited supply, heritage overlays that restrict development, and consistent demand from high-income government officials and diplomatic staff.

Which neighborhoods are considered up-and-coming or budget-friendly?

Charnwood offers the most affordable entry point at $704,000 median, while emerging suburbs like Casey and Ngunnawal provide growth potential in the $750,000-$850,000 range.

1. Budget-friendly suburbs: Banks, Holt, Richardson, Phillip, Isabella Plains, Macgregor, and Greenway offer medians between $746,000-$804,000
2. Emerging growth areas: Belconnen units market benefits from university and transport access with strong rental demand
3. Family-focused value: Kambah, as Canberra's largest suburb, provides space and amenities at $867,000 median
4. Urban renewal potential: Watson offers CBD proximity with café culture development and character renovation opportunities
5. New development zones: Molonglo Valley suburbs like Wright represent future growth with modern infrastructure

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How do prices vary depending on land size or apartment surface?

Land size significantly impacts property values in Canberra, with larger blocks in established suburbs commanding substantial premiums over compact developments.

Smaller dwellings under 80m² typically range from $383,000 to $442,000, representing the entry-level market accessible through affordable housing schemes. These compact units attract first-time buyers and investors seeking lower entry costs.

Standard two-bedroom apartments of 80-120m² fall within the $500,000-$650,000 range, while three-bedroom units exceeding 120m² can reach $700,000-$800,000 in desirable locations.

House prices correlate strongly with land area, particularly in suburbs like Wanniassa, Kambah, and Campbell where larger blocks support premium pricing. Land values increased 6.5% year-on-year, outpacing dwelling price growth.

Premium houses on blocks exceeding 800m² in established suburbs can command $200,000-$500,000 premiums over similar dwellings on standard 600m² blocks, reflecting Canberra residents' preference for space and gardens.

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What are some recent example purchase prices across different property types?

Recent sales data from September 2025 shows significant price variation across Canberra's suburbs and property types.

What is the total cost of buying a property, including taxes, fees, and other expenses?

Purchasing a $1 million property in Canberra incurs approximately $45,000-$55,000 in additional costs beyond the purchase price.

Stamp duty represents the largest expense at $34,270 plus $6.40 per $100 over $1 million, potentially reaching 6.4% for high-end properties. This compares favorably to New South Wales but exceeds some other states.

Annual ongoing costs include rates averaging $3,000-$4,000 per year, with higher charges for land valued over $1 million. The ACT government introduced an additional $250 health levy, increasing the total rates burden.

Professional fees typically include conveyancing costs of $1,500-$2,500, building and pest inspections at $500-$1,000, and loan establishment fees if financing is required.

1. Upfront costs: Stamp duty, legal fees, inspections, and loan costs
2. Annual expenses: Council rates, insurance, and maintenance
3. Investment properties: Additional land tax based on unimproved land value
4. Insurance requirements: Building insurance and potentially mortgage insurance
5. Ongoing maintenance: Property management and repair costs for investors

How does the cost of ownership compare to renting, both short-term and long-term?

Renting currently offers significantly lower monthly costs compared to buying, with median house rent at $716 per week versus mortgage payments of $1,162 per week.

For houses, annual rental costs of $37,232 compare to mortgage payments of $60,424 (assuming 20% deposit and 6% interest), making renting 38% cheaper in the short term. The mortgage-to-income ratio reaches 60% for houses versus 37% for rent.

Units present a closer comparison, with rental representing 36% of median income versus 30% for mortgage payments, making ownership more viable for apartment buyers seeking long-term equity building.

Long-term ownership benefits include capital appreciation, tax advantages for investors, and protection against rent increases. However, the significant cost difference means renters can potentially invest the savings for comparable returns.

The buy-versus-rent decision depends on individual circumstances, with ownership favoring those planning 7+ year stays and renters benefiting from flexibility and lower monthly commitments.

If I want to buy and later resell at a higher price, what are the smartest areas or property types today?

Inner North and Inner South suburbs offer the strongest resale potential, with Campbell, Braddon, and O'Connor leading capital growth prospects.

Growth pockets in Gungahlin, particularly Casey and Ngunnawal, provide emerging market opportunities with new infrastructure and expanding amenities supporting future appreciation.

Modern apartments near employment hubs and town centers consistently outperform older stock, particularly in Belconnen and newer Molonglo Valley developments like Wright.

1. Prime investment suburbs: Campbell, Griffith, Deakin for established premium growth
2. Emerging opportunities: Casey, Wright, Ngunnawal in expanding outer areas
3. Property types: Modern units near transport, land-rich houses in leafy established areas
4. Location factors: Walkability to schools, shops, and employment centers
5. Development potential: Areas with infrastructure investment and zoning flexibility

It's something we develop in our Australia property pack.

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How have property prices changed compared to one year ago and five years ago?

Canberra's property market shows modest annual growth, with houses remaining flat to achieving 1% gains over the past year, while units declined 1-1.4%.

Five-year performance reveals significant variation by suburb, with areas like Casey, Calwell, and Campbell achieving 45-49% growth since 2020. This outpaced most Australian capital cities during the same period.

Units underperformed houses over the five-year period, reflecting buyer preference for land and space during the pandemic-driven market expansion.

The decade-long trend shows 63.1% growth in Canberra property values since 2015, representing annual compound growth of approximately 5% across all property types.

Recent market stabilization follows the rapid growth period of 2020-2023, with current conditions favoring sustainable appreciation rather than speculative gains.

What are the forecasts for Canberra's property prices over the next one, five, and ten years?

House prices are forecast to reach $1.1 million by 2026, representing 4% annual growth, while units should achieve 3% growth to $625,000.

The 2030 projection places house medians at $1.31 million, requiring annual growth of approximately 4.5% over the next five years. This represents a $280,000 gain from current levels.

Long-term forecasts through 2035 expect steady 3-4% annual appreciation, though Canberra may trail Sydney and Brisbane growth rates due to slower population expansion.

Market analysts anticipate sustainable growth supported by government employment stability, limited land supply, and consistent rental demand from public servants and university students.

Economic factors including interest rates, population growth, and government policy changes could impact these forecasts, with most scenarios supporting continued moderate appreciation rather than dramatic price movements.

How does Canberra's property market compare with other major Australian cities?

Canberra sits in the middle tier of Australian capital city property prices, with house medians below Sydney ($1.41M) and Melbourne ($1.23M) but above Adelaide ($820K) and Hobart ($740K).

It's something we develop in our Australia property pack.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. Domain House Price Report June 2025
2. NAB Canberra Property Market Insights
3. Loan Market Canberra Median House Prices 2025
4. OpenAgent Canberra Property Market Profile
5. Your Mortgage Buy vs Rent Analysis
6. Which Real Estate Agent Canberra Market Update
7. Savings.com.au Canberra Suburbs 2025
8. Property Update 2030 Forecasts