Canberra’s top 10 performers of the year recorded double-digit growth in median house price — and six suburbs in the list are within the Belconnen and Weston Creek districts.
Spence’s price growth topped the roster—up by 15% to $620,000. Another Belconnen suburb, Latham, came in second. The area posted an increase of 14% to $587,500 in median values. Macgregor, meanwhile, held the ninth spot with a 10% price rise to $540,000.
In Weston Creek, Duffy placed third with an increase of 13% year-over-year to a median sale price of $732,000. Chapman took the fourth spot, climbing by 13% to $907,500. Holder ranked seventh, logging 12% growth to $671,000.
Yarralumla, which was the only inner-city suburb in the list, held the sixth spot. Values in the area rose by 12% to a median sale price of $1.57 million. Situated 3.5 km from the CBD, Yarralumla is one of Canberra’s most prestigious areas, according to realestate.com.au.
Southern suburbs Calwell (5th) and Richardson (8th) in Tuggeranong; and Farrer (10th) in Woden completed the list.
Many of the top growth areas offer housing options that would attract families, first home buyers and investors — specifically older-style houses on large blocks with three or four bedrooms.
Weston Creek, located about 13km southwest of the CBD, also attracts buyers searching for more space for their money.
“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,” Realestate.com.au. said.
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