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25 Aug, 2020

What is the Median House Price in Canberra and Its Suburbs?

From picturesque reserves and lakes, world-class museums and an extensive range of excellent restaurants to job opportunities, educational facilities and accommodations, Canberra have a lot of things to offer when it comes to the liveability. If you want the facilities of a big city but don’t want to miss the feeling of a small town, then Canberra is the best place for you. The capital city of Australia offers you the best of both the worlds.

If you are thinking of buying your own home in this city, you are making the right choice! However, before you do that, you should know the median house price in Canberra and its suburb. It is the foremost step to find a property within your budget. If you are moving on a tight budget, hire cheap removalists in Canberra to accomplish the relocation is a hassle-free manner.

If you want to know more, here is detailed information about the median house price in Canberra and its suburbs. Let’s have a look!

Canberra – The Median House Price

The capital city of the country offers a lot of things such as better job opportunities, educational facilities and improved lifestyle. That is why people move to this place from every corner of the country. However, you should not forget that it is one of the most expensive places in the country and the median house price of this place exemplifies the fact. The average house price in Canberra is $738,864, and for a unit, the average price is $432,252. The price makes Canberra the third most expensive capital city in Australia to buy a house.

The Effect of COVID-19 Pandemic on Canberra Property Market

The COVID-19 pandemic has battered the Sydney and Melbourne real estate, but surprisingly, the pandemic didn’t make an impact on Canberra. It is the only capital city in Australia to witness an increase in the median price of the house. No other capital city has seen growth in house prices during the last few months without fail.

The median house price has increased by 0.7 per cent every month since August 2019, and even coronavirus couldn’t dent this momentum. In contrast, the median house price in Sydney and Melbourne has dropped in the last few months. It is possibly because Canberra is still offering a lot of employment opportunities in comparison to other paces, and that is attracting a lot of people, so the demand for the house is constant. A lot of Australian are still moving to the city with the help of experienced removalists in Canberra.

Canberra Suburbs with Affordable Median House Price

As Canberra is one of the costliest cities in the country to purchase a house, most of the people who move to this place, look for the most affordable suburbs in the Capital city. If you are also planning to move to this part of the country, then try to save as much money as possible. So select a suburb where the median rent is affordable and hire professional removalists to make the moving easier. Here are the most popular Canberra suburbs where the median house price is affordable.

Banks

Banks is the southernmost suburb, which is located 21 kilometres from the centre of Canberra. This beautiful suburb has a small local shopping centre that more than capable of fulfilling your daily requirements. It is a very family-friendly place with big blocks that offer ample room for the back yard. The median house price in this suburb is 515k, so you can easily purchase a property here to live or invest. The overall population is more than 5k, and 70% of families live with children.

Macgregor

Macgregor is another excellent place where you can purchase a house within your budget. As it is only 14 kilometres from the Canberra CBD, it attracts families as well as young professionals. The median house price here is 545k, which allows a lot of people to purchase property here.

More than 7k people live here, and above 65% of the people are owners. If you move to this place with your kids, there are some excellent places to visit nearby. Australian National Botanic Gardens, Questacon, National Gallery of Australia and other such places are hardy 20 to 25 minutes drive.

Ngunnawal

Ngunnawal is located only 12 kilometres from the centre of CBD, offer essential amenities to its residents, and the median house price is affordable. Thus, it attracts a lot of people from every corner of the country and allows them to purchase the property.

The median house price in this suburb is 550K so you can also purchase a property within your budget. The total population in Ngunnawal is more than 10k, and 70% of the people are owners. If you are planning to move here with your kids, it is advisable to hire experienced removalists in Canberra. They will make your moving hassle-free.

Gordon

Surrounded by beautiful mountains in the valley of Tuggeranong, this suburb is perfect for you. If you want to purchase a house in a safe and family-friendly neighbourhood, then Gordon is the right choice for you. The median house price in this beautiful suburb is $560k, which make it one of the most affordable options.

It has easy access to public transport, so you can reach the Canberra CBD within 20 to 30 minutes. The convenience stores and a shopping mall are also at a nearby distance. If you move to this suburb, you can spend quality time with your family by visit nearby popular place. National Zoo and Aquarium, National Museum of Australia, Australian National Botanic Gardens, etc. are only 30 minutes drive.

Holt

If you are planning to move to Canberra and looking for an affordable suburb not too far from the CBD, then you should consider Holt. It is only 13 kilometres from the Canberra CBD, and the median house price here is $562k.

Moreover, it offers a peaceful environment, greenery, privacy, cleanliness, safety, and Neighbourly Spirit. Before you move to this suburb or any other place, it is essential to do your research. So, you should spend sufficient time on the research instead of packing your belongings. Hire professional removalists in Canberra to accomplish the task smoothly. A lot of people prefer to move to this place with kids. The overall population is Holt is more than 5k, and 61% of families have children.

Theodore

Theodore is a family-friendly place that offers a lot of greenery to its people. So if you are one of those who prefer to stay close to nature, then you should purchase property in Theodore. Almost 40% of the total area of this suburb is covered with parks.

As the median house price in this suburb is $583k, many people find it affordable. Thus, 79% of the population are owners here. As it is only 18 kilometres from Canberra CBD, it provides easy access to some popular places in Canberra like National Carillon, National Museum of Australia, National Zoo and Aquarium, and so on. These places are hardy 20 minutes drive from Theodore.

Isabella Plains

Isabella Plains is another affordable and family-friendly suburb in Canberra. It is located around 17 kilometres away from the Canberra CBD and offers all essential facilities that you can ask for. From supermarket, chemist, and doctor to restaurants, cafes and major shopping centre, everything is a few minutes away.

Moreover, it offers greenery, privacy and peaceful environment to its people. Whether you want to buy a home t live or just investment purpose, Isabella Plains will not disappoint you. The median house price here is $585k, so you can explore a suitable property within your budget. It is the home of 4k people, and 66% of the families have children. If you are relocating with kids, hire removalists in Canberra to make you move stress-free.

The Bottom Line

Canberra is an excellent place to move and settle down, but you should not forget that it is one of the most expensive places to purchase a house. So, do sufficient research and keep in mind the median House price in Canberra and suburbs before you prepare a budget. The list of suburbs with affordable median house price will help you to make the right decision.