Outer suburbs dominate Canberra’s top growth areas
A whopping nine suburbs around Canberra achieved double-digit price growth in the past 12 months, new data reveals.
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.
Originally published as Outer suburbs dominate Canberra’s top growth areas