What makes these Canberra's million-dollar suburbs?

Strong performances last year confirmed membership of the million-dollar-plus club for 16 Canberra suburbs with more than 50 sales annually, according to the latest Domain House Price Report.

High-flyers with seven-figure median prices included Yarralumla at $2.28 million, with Franklin coming in 16th place on $1 million exactly.

Bree Currall of Belle Property Canberra says many factors influence a suburb crossing the magic threshold.

“Increased demand within those suburbs can then put upward pressure on their prices,” she says. 

Currall nominates Rivett, Latham and Amaroo as picks to likely join the club next.

 Jason Roses of Verv Property says property sizes and the potential to add value also drive price growth.

“Newer suburbs tend to be populated by big-footprint homes and buyers are drawn to these,” he says.

“In the more established suburbs, however, it is the opportunity for knockdown-rebuilds, or renovations and extension. They offer buyers the option to increase the value of their home and this, too, pushes up prices.”

Roses gives the nod to Bonner and Calwell as suburbs flying under the radar that offer a mixture of big homes and great views. He also tips Rivett for its appeal to young families and all-around convenience.

• Where: “Location, location, location” is a universal truth in real estate and consistently rates as the key price growth factor – but every suburb usually has a star street that out-performs its neighbours.
• What: Proximity to quality schools is another big driver of price growth and families are drawn to those suburbs – and streets within them – that offer walkable or easy drop-off, and pick-up locations.
• More: Convenience is another big factor and that’s usually expressed through access to key roads or to well-serviced public transport routes. The light rail has likely helped boost prices along its route.

Check out our top pick of homes for sale:

Narrabundah

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Narrabundah is one of those popular Inner South suburbs that enjoys a mix of dwelling types and styles but stakes its place on its sheer convenience to just about everything.

This executive townhome in Lindsay Street is a case in point, offering a high level of contemporary living within a simple, but thoughtfully designed floor plan.

The residence’s clever design is deceptive – it’s actually set over three levels behind its premium aluminium and spotted gum-clad exterior.

There’s a lower level for double car garaging and storage that leads up to the main living level where the main bedroom suite is also located. An upper level offers two further bedrooms.

The generous open-plan living, dining and kitchen hub on the main level sits on luxury European oak engineered-timber flooring. There is extensive use of timber throughout the home that provides an organic connection and warmth. 

This is emphatically illustrated through its incorporation into the kitchen’s highlight stone and timber island breakfast bar. Of course, brand appliances abound and there’s a clever windowed splashback that draws in more light. There’s access to an al fresco entertaining area overlooking quality landscaping.

The main bedroom suite offers expansive built-ins and a luxe en suite with twin vanities. Upstairs, two more bedrooms offer built-in robes and share a main bathroom with a free-standing tub. 

All up, there’s a generous 171 square metres of luxury Inner South living.

Price guide: $2 million+ 

Auction: 12.30pm, February 18

Agent: Belle Property Canberra, Bree Currall 0410 633 247

Or try these:

Yarralumla

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Price guide: $2.3 million

Private sale

Agent: Maureen Dwyer Property Consultant, Maureen Dwyer 0418 226 109

Forrest

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Price guide: $2.2 million+ 

Private sale

Agent: HIVE Property, Bree Prince 0450 566 150

Kingston

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Price guide: $1.695 million

Private sale

Agent: PURNELL, Nick Purnell 0401 043 142