Canberra's Inner North suburb where house prices have soared by almost 20 per cent

O’Connor has posted one of Canberra’s highest annual growth rates, with its median house price climbing 18.3 per cent to $1,537,500.

According to the latest Domain House Price Report for the September quarter, the strong performance is even more pronounced over the long term, with values surging 39.8 per cent in the past five years.

The Inner North suburb’s appeal lies in its perfect blend of established character and convenience.

Located just five kilometres from the city centre, O’Connor maintains a leafy, residential atmosphere while offering easy access to the Australian National University, Calvary Hospital and well-regarded schools.

The suburb’s limited development opportunities have created scarcity in a market where location has become increasingly valued.

O’Connor’s strength is exemplified by Theo Koutsikamanis of Bastion Property Group’s recent off-market sale of a substantial 992-square-metre site at 38 Nardoo Crescent for $1.85 million. The property had been sold just one year earlier for $1.34 million.

By negotiation

38 Nardoo Crescent, O'Connor ACT 2602

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Situated in a picturesque street, it included an original three-bedroom timber house in a prized corner location.

Secured during a pre-marketing campaign, the property attracted a local developer who recognised the value in both the land size and the DA-approved plans included with the sale.

Koutsikamanis noted that such opportunities were increasingly rare in O’Connor’s tightly held market, where planning approvals had become more difficult to obtain.

“Properties that already include approved plans are in higher demand than ever, offering a valuable head start in today’s challenging development landscape,” he said.

Koutsikamanis added that buyers were particularly attracted to the suburb as it offered larger properties with multigenerational living options in a convenient and sought-after location.