Canberra’s housing and investment market is one of the most expensive in the country as property prices continue to rise, and the median house price was sitting 0.4 per cent higher than the national average in September.
Referred to as the ‘Goldilocks’ of real estate markets (not too hot, not too cold, just right), Canberra is consistent, will seldom crash, and consistently records the highest average incomes and lowest unemployment in the nation.
Canstar’s Rising Stars Australian Property Market Report, powered by Hotspotting, ranks the top five suburbs in Canberra to research if you’re planning to invest in property in 2022.
| Suburb | Median house price | 1-yr growth | 10-yr average annual growth (%pa) | Vacancy rate | Median rental yield |
| Harrison | $785,000 | 3.6% | SNR | 0.7% | 4.3% |
| Curtin | $1,080,000 | 17.0% | 4.7% | 0.7% | 2.9% |
| Florey | $735,000 | 7.2% | 4.0% | 0.3% | 4.1% |
| Gungahlin | $790,000 | 4.6% | 4.1% | 0.7% | 4.0% |
| Isabella Plains | $630,000 | 9.2% | 3.3% | 0.2% | 4.5% |
In Canberra’s north, Harrison’s low vacancy rate (0.7 per cent) and strong rental yields make it a prime suburb to invest in.
The neighbouring suburb of Gungahlin has an equally low vacancy rate, and a median 4.0 per cent rental yield.
On the edge of Belconnen Town Centre, Florey boasts a rental vacancy rate just above zero (0.3 per cent), favourable rental yields, and strong sales activity translating to a 7.2 per cent increase in the median house price in the past 12 months.
Over on the southside, Curtin also has a low vacancy rate, while increasing buyer demand has fuelled a 17 per cent increase in the median house price in the past year.
Of the five suburbs on Canstar’s list, Isabella Plains in Tuggeranonghas the lowest vacancy rate (0.2 per cent) and lowest median house price, while recording the second-highest annual growth in property prices at 9.2 per cent.
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Terry Ryder is a residential property researcher and writer for over 35 years and has provided Canstar with insight into the prospective price growth of Australia’s most popular regions.
“There’s an evenness to the Canberra market that you don’t see in Australia’s other capital cities, likely because it was a planned city,” Mr Ryder said.
“Canberra is a consistent performer on price growth, which is great news for homeowners, but those seeking affordability may need to look closer to the ACT border or beyond to ‘Rising Star suburbs’ like Goulburn and Queanbeyan.”
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