Canberra’s most popular suburbs for property sales in 2020 have been revealed with areas closer to the capital’s vibrant hubs placing in the top positions, according to Domain data.
Braddon recorded the most sales of all ACT suburbs with 331 reported sales in the calendar year to November 2020. This was followed by Kingston with 316 sales, while Belconnen rounded out the top three with 265 sales.
Lauren Laing of The Property Collective said sales in Braddon, Kingston and Belconnen were buoyed by demand from first-home buyers purchasing apartments.
“These suburbs are close to the hustle and bustle of the city, Belconnen isn’t too far from the city either, and people purchase within these suburbs for the lifestyle it offers,” Ms Laing said.
“I sold a Braddon apartment at the peak of the pandemic when restrictions on open home inspections were in place, and the turnout was unbelievable. There was a line out the door with everyone keeping their distance.
“I’d never seen so many people at an inspection for an apartment. In one day, we had 37 groups through, and it sold within a week of it listing, and that was predominantly driven by first-home buyers.”
Canberra’s suburbs with the most sales in 2020
|Rank||Suburb||Region||Number of Sales (Jan-Nov 2020)|
Likewise, in the housing market, James Carter said people upsizing this year had driven sales across Kambah and Ngunnawal, which recorded 252 and 204 sales, respectively.
“Kambah, in particular, has seen a big transformation over the years,” he said.
“The suburb had a lot of Mr Fluffy blocks that were auctioned off and rebuilt and have really changed the outlook of Kambah.”
Ms Laing added that buyers priced out of Woden Valley and Weston Creek often look further out towards Kambah in Tuggeranong and with a shift in the demographic of buyers from elderly people to families, it’s created more demand for the suburbs.
Families are more prone to look for houses on larger blocks of land that offer space for all to enjoy with an affordable price tag, which Kambah houses offer, Ms Laing noted.
“Amid the pandemic, we saw people want to upsize, so competition has been tight given the lack of stock in the market this year,” she said.
“So, people who were priced out of the suburbs in Woden Valley and Weston Creek are now going to Kambah. Unlike the inner-city suburbs, buyers get more bang for their buck the further they are from the city.”
Allhomes data revealed that the most searched suburb in the ACT for buyers was Kingston, followed by Kambah and Yarralumla.
Most searched suburbs on Allhomes in 2020
|Rank||Suburb||Region||Number of times the suburb was searched|
|8||Denman Prospect||Molonglo Valley||307,273|
“It’s not the first time Kingston has come out on top as the most searched suburb. It’s been a popular suburb for a number of years,” Mr Carter said.
In fact, in 2018 and 2019, Kingston was also Allhomes’ most searched suburb.
“Because Kingston has the foreshore – which has seen a lot of new apartments, and it offers that harbour lifestyle – it’s an attractive option for many buyers, especially downsizers who are swapping their big homes for low-maintenance apartments,” Mr Carter added.
Rounding out the top five most searched suburbs were Griffith and Braddon.
Moving forward, Mr Carter anticipates buyer demand to continue and called on the ACT government to release more land to keep up with the demand.
“It would be great to see more greenfield suburbs come to life with the release of Whitlam, Strathnairn and the last parts of Gungahlin,” he said.
“Canberra has only had positive growth this year. It’s been a consistent and top performer in the housing market compared to other cities, and I think it will continue to be so in the new year.”