Trying to find the best suburbs in Canberra? Sounds like you’ve heard about how awesome it is to live in Australia’s capital. It boasts all the best of Australia—the bountiful nature, wonderful weather and laid back lifestyle with the thriving property market in Canberra to top it off.
But it takes it a step further and offers you all of that at a fraction of the price you’ll get in Sydney or Melbourne.
And the housing values are a great indicator of this city’s growth. According to Property Update, the prices in Canberra have risen by 30.9% and the unit prices by 9.4%—the highest growth rate across the capital cities. But in case you’re wondering—yes, you can still find cheap houses for sale in Canberra, at least below $650,000.
With low unemployment and crime rates and a steady growth in new developments and the local economy, it’s no wonder Australia’s best kept secret is slowly being revealed. And on top of that, Canberra is also one of the best cities for international students.
So, to help you narrow down your selection, we’re rounding up the best suburbs in Canberra so you can find what works for you. Whether you’re a young professional, bringing your family, or hoping to retire, living in Canberra can be truly awesome.
But if these neighbourhoods are above your budget, check out our round up of cheap rent in Canberra to find a suburb that works for you.
Next Steps: Delving into property acquisition in Canberra? Our focused piece on buy a house in Canberra is a must-read for additional insights.
The 9 best suburbs in Canberra
Red Hill
About the Suburb
Median House Price: $1,550,000
Red Hill is one of the best suburbs in Canberra, thanks to its easy reach. It has an expansive green space and walking trails. It also maintains close proximity to the main city. The expansive nature reserve gives residents in the neighbourhood access to playing fields too, making it one of the best places to live in Australia.
This suburb has a good gross rental yield and is within easy reach from Canberra’s city centre. Residents of the Red Hill suburb also have easy access to schools, parks, shops, and even the market. This Canberra suburb has a strong sense of community and the average cost for a house is $1,600,000.
Wondering if Red Hill is one of the suburbs to avoid in Canberra? Check out our guide to find out!
Check out more real estate for sale in Red Hill ACT.
Lyons
About the Suburb
Median House Price: $1,400,000
Lyons is a suburb that is located in the Woden Valley district. It is one of Canberra’s finest districts, with various walking trails and a nature reserve. In the past year, most young families and residents from across the city desired property in Lyons.
Also, this suburb is close to Westfield Woden, shops, schools, and other amenities, which makes it a great place to live or invest in.
Lyons has an estimated median house price of $1,220,000 and a median unit price of about $885,000. If you’re looking for cheap rentals in Canberra, it’s more likely you’ll find them here.
Discover more properties for sale in Lyons ACT.
Forrest
About the Suburb
Median House Price: $3,800,000
Forrest is famously known as the most expensive suburb in one of the most expensive cities -Canberra.
The green spaces and rich lifestyle has placed a high demand on rents and sale of properties in the area. Also, basic amenities, like shops, are a walking distance from the residential areas. A house in Forrest goes for about $3.5 million and an apartment unit at $767,500.
Discover more properties for sale in Forrest ACT.
Barton
About the Suburb
Median House Price: $2,172,500
Barton is a suburb located near Lake Burley Griffin, making for an aesthetic view for residents.
This suburb is one of Canberra’s most influential residential areas, with a high demand that results in a high gross rental yield. In Barton, houses are less than units, and the area has a median house price of over $1,000,000.
In Barton, parks, schools, and houses with parklands are common. This makes it ideal for families to rent and own property here.
Discover more properties for sale in Barton ACT.
Wanniassa
About the Suburb
Median House Price: $857,650
Wanniassa is located south of Canberra and is one of the few suburbs in a convenient location. Owning property in this suburb guarantees easy access to schools, shops, and a leisure centre.
It also has a very good rental yield, with an estimated median house price of around $857,000.
Discover more properties for sale in Wanniassa ACT.
Ngunnawal
About the Suburb
Median House Price: $772,500
Ngunnawal is close to the Gungahlin town centre in the North of Canberra. It is Canberra’s most affordable suburb. Here, you can find more than one shopping centre and several schools.
The close proximity to schools is one of the reasons families get property here. Ngunnawal has a good gross rental yield with a median house price of about $835,000.
Discover more properties for sale in Ngunnawal ACT.
Yarralumla
Median House Price: $1,925,000
About the Suburb
Yarralumla is located on the banks of Lake Burley Griffin and is adjacent to Capitol Hill. It is a 15-minute drive from the city centre by public transport. It has a lot of large blocks, a green space, parks, and a swimming beach.
Also, the schools in this neighbourhood are five-star, and there’s even a yacht and golf club. The average price for a house in this area is $2.2 million.
Discover more properties for sale in Yarralumla ACT.
Hughes
About the Suburb
Median House Price: $1,390,000
Hughes is centrally located, approximately 9 kilometres south-west of Canberra’s city center. As one of Canberra’s most popular suburbs, Hughes has a wide nature reserve, accessible market and availability of schools.
The suburb boasts a small local shopping center that includes a supermarket, cafes, and other essential services. Larger shopping precincts like Woden Plaza are just a short drive away, offering a broader range of retail and dining options.
Discover more properties for sale in Huges ACT.
Kingston
About the Suburb
Median House Price: $890,000
Kingston is one of the oldest suburbs in Canberra. The leafy streets, old-school eateries and trendy foods make the town desirable.
It is close to the banks of Lake Burley Griffin and adds a cultural glow to the town. It has a median unit price of about $685,000.
Discover more real estate for sale in Kingston ACT.
Conclusion
Finding a place that checks all your boxes can be difficult. So, this article has highlighted the best suburbs in Canberra for you to consider.
Whether you are looking for great views, schools, affordability or communal life, there’s a perfect suburb for everyone.
FAQ Section on Best Suburbs in Canberra
Q: What are the nicest suburbs of Canberra?
Canberra’s nicest suburbs include Forrest, known for its green spaces and high demand for rents and property sales due to its rich lifestyle and close proximity to amenities.
Q: What is the richest suburb in Canberra?
The area containing Forrest, Griffith, Manuka, and Red Hill has the highest average taxable income in the ACT, making it the richest suburb in Canberra.
Q: What is the growing suburb of Canberra?
The fastest growing area in Canberra in 2021-22 was North Canberra, followed by Molonglo and Gungahlin, showcasing significant population increases due to its appealing living conditions.
Q: Where is nice to live in Canberra?
Barton is considered one of the nicest places to live in Canberra due to its lifestyle-rich neighborhood, historic homes, and proximity to the city centre.
