Campbell is Canberra’s best performing suburb for 2015

60 Vasey Crescent in Campbell sold for $2.2 million in 2015. The suburb recorded the highest increase in median house price in 2015.60 Vasey Crescent in Campbell sold for $2.2 million in 2015. The suburb recorded the highest increase in median house price in 2015. Photo: Supplied

With its desirable location and picturesque views, Campbell topped the Allhomes list of Canberra’s best performing suburbs for 2015.

The prestigious inner north residential area recorded the highest growth in median house price last year, an annual jump of almost 30 per cent on the site’s property market index.

Not only did Campbell’s midway point for detached homes soar to $1,080,000, but the suburb also recorded three property sales of more than $2 million each.

Real estate agent Greg Hedger, of Luton Properties Manuka, made his first million dollar-plus sale in the prestigious neighbourhood eight years ago, which was “significant at the time”.

He said Campbell remained “the best located suburb” in the ACT, being “beautifully positioned halfway between the Canberra airport and the city”.

Residents tended to “go against the traffic” on their journeys to and from their homes and another bonus was the “good range of schools” in and around the area.

“With the Majura development happening, a lot of builders and tradespeople are buying in Campbell,” Mr Hedger said.

“It’s pretty good value because there are still large blocks.”

Mr Hedger said the local shopping centre was “extremely vibrant”, with more development likely in the years to come.

“It’s a suburb where I don’t think it’s possible to overcapitalise at the moment,” he said.

He called Campbell “a mixed bag” of renovations and knock-downs and said it was “very much a suburb in transition”.

The Belconnen district took the next three places on the Allhomes performance index, with Aranda, Giralang and Macquarie notching up growth rates of more than 20 per cent in 2015.

Hughes, Ainslie, Narrabundah, O’Connor, Garran and Chifley completed the top 10 list, which is based on median prices in suburbs with annual sales of 15 or more houses.

Jonathan Charles, from the Independent Property Group in Woden, confirmed that Chifley was on the rise and said he saw “record numbers” going through open homes last year.

“The bottom end of the market is picking up and that’s driving the middle and top end,” Mr Charles said.

He attributed the high performance of suburbs in the Woden region to “the combination of schools and lifestyle” on offer.

Campbell, Garran, O’Connor and Hughes were among the suburbs experiencing the greatest change in median house values over the past five years.

Crace had a 121 per cent growth rate, according to CoreLogic RP Data’s national statistics.

Top suburbs for price growth in 2015

Campbell 29.7%

Aranda 22.6%

Giralang 20.6%

Macquarie 20.3%

Hughes 19.8%

Ainslie 19.3%

Narrabundah 16.4%

O’Connor 15.3%

Garran 15.2%

Chifley 14.8%

*Data by Allhomes. Based on suburbs with more than 15 sales in 2015