Ones to watch: The Canberra suburbs set to soar in popularity

There are a few key factors that drive a suburb’s popularity – large backyards, proximity to schools or public transport, a friendly community and local amenity. When a suburb ticks several of these boxes, its popularity soars.

Allhomes has talked to the experts, crunched the numbers and selected the suburbs from each of Canberra’s districts that we think are the ones to watch.

The good news is most of them have a median that hovers around or below Canberra’s $654,306 median price. However, it might not be that way for long – strong growth is predicted for these rising stars.

Gungahlin

Suburb to watch: Harrison
Record: $1.185 million (2015)
2016 median house price: $615,000

The proposed light rail is expected to boost home values along the transport corridor, with home owners in Harrison and Franklin benefiting from the infrastructure. According to LJ Hooker Gungahlin agent Jeff Shortland, every Gungahlin suburb has “been going gangbusters for the past 12 months” and stock levels in Gungahlin’s prestige suburbs are at a record low. However, he says Harrison and Franklin have the most to gain.

“Oversupply in the apartment market has impacted on prices (and capital growth) but that could change now that construction is slowing,” Shortland says. “Prices are very good (the same as what they were four years ago) and I believe the light rail will give the location a boost. The Flemington Road corridor is going to be a hub of commercial activity as Gungahlin continues to grow.”

Harrison offers a mix of homes from entry level one-bedroom apartments to million-dollar houses.

Belconnen

Suburb to watch: Kaleen
Record: $935,000 (2015)
2016 median price: $618,750

Kaleen’s popularity has soared in recent years. Its position near the Belconnen town centre and the city, coupled with traditionally large block sizes and excellent local schools has made it a hit with families.

Established homes on large blocks in Kaleen represent excellent value when compared with new builds in the area – land in the neighbouring suburb of Lawson sold for an average of $900 a square metre. Buyers have started to take notice, more than 100 groups visited this week’s cover home in Kaleen during its first weekend on the market.

“It’s insanely hot at the moment,” Rutherford Johnston agent Scott Isaacs says. “There’s nothing stopping it and there’s not a lot of stock on the market.”

Kaleen predominantly comprises free-standing family homes, however there are some apartments near the shopping centre.

Inner north

Suburb to watch: Watson
Record: $1,141,000 (2016)
2016 median house price: $661,000

If you’re seeking a free-standing home in this suburb and find one that suits your needs, be prepared to act quickly. Homes are flying off the market in this part of town and a million-dollar price tag has been achieved three times now.

Luton Properties Dickson agents Jenny and Michael McReynolds sold the record-breaking home in June and Jenny says the suburb’s central location, combined with its family-orientedcommunity has been a major drawcard for young buyers.

“It’s come full circle and young families are moving back into the area,” McReynolds says. “The shops have been revamped and it’s very vibrant.”

With a median house price just above the Canberra median, the suburb represents excellent value for those looking for a home in the inner north. Watson provides easy access to Mount Majura’s walking trails, the city and the Flemington Road transport corridor.

Inner south

Suburb to watch: Narrabundah
Record: $1.8 million (2016)
2016 median house price: $759,950

It’s no surprise that the most expensive addition to this list is in the prestigious inner south. However, you are much more likely to find a sub-million-dollar property in Narrabundah than its neighbouring suburbs.

“It’s still just that bit more affordable than Griffith or Red Hill, but people don’t think it will stay that way for long,” Belle Property principal Louise Harget says. “I find many people are rushing to get in before it’s too late.”

The suburb’s easy access to reputable public and private schools, has always made the suburb popular, but Harget, a Narrabundah resident, says she has witnessed a dramatic transformation during the past five years.

Confidence in the suburb has solidified, home values have escalated and renovations and knock-down rebuilds are giving Narrabundah a new lease of life. Trendy cafes and restaurants and a well-stocked IGA have also added to its appeal.

Woden Valley

Suburb to watch: Lyons
Record: $1.29 million (2014)
2016 median house price: $705,100

While Canberra’s urban sprawl continues to expand, Woden remains the geographical centre of the capital. A few sales in the suburb have cracked the million-dollar mark, demonstrating that buyers are happy to pay top dollar for a turnkey property in Lyons. However, it is possible to bag a bargain if you’re prepared to do the work.

Cream Residential director Chris Wilson says the position of the suburb is a standout feature.

“Some locations have amazing views to the north and there are lots of cul-de-sacs that back onto the trails of Oakey Hill,” Wilson says. “Its proximity to Woden and ease of access to roads that lead to the city, Fyshwick, Tuggeranong and Weston Creek make it a really well positioned suburb with so much to offer.”

Wilson says prices and demand have grown since the old Burnie Court flats were removed, while developer demand for RZ2 blocks in the area is also contributing to rising prices.

Weston Creek

Suburb to watch: Rivett
Record: $885,000 (2015)
2016 median house price: $555,000

Rivett was launched as an affordable family option in the mid-1970s and Peter Blackshaw Woden and Weston Creek agent Daniel Stone says large blocks continue to draw families to the Weston Creek suburb. Reputable schools, Cooleman Court and Mount Stromlo Forest Park are also key drawcards. As the original residents are now empty nesters and downsizers seeking smaller homes, there is a strong demand from young families hoping to move into the suburb.

Rivett accumulated its share of Mr Fluffy homes during its early days and remediated blocks have sold for more than half a million dollars at this year’s land auctions.

“It’s easy to conceive that properties capable of cracking the million-dollar mark will soon be appearing throughout the suburb,” Stone says. “The byproduct of this emerging top end will ensure the entire suburb benefits long term from this urban rejuvenation.”

Tuggeranong

Suburb to watch: Wanniassa
Record: $980,000 (2014)
2016 median house price: $512,250

Rising prices in Woden and Weston Creek have seen the area’s prospective buyers expand their search into Tuggeranong’s northern suburbs. One Agency principal Sandy Morris says Kambah has already seen strong growth and she expects Wanniassa will be Tuggeranong’s next rising star.

The suburb’s offerings include block sizes measuring 600 square metres to 1600 square metres, which has made it popular for young families seeking value for money and room to grow. The Erindale Shopping Centre has earned a loyal following from residents who enjoy a range of amenities without having to drive.

“It’s particularly popular with older people who want to be able to walk to the shops,” Morris says.

Wanniassa shares a border with Farrer Ridge and Wanniassa Hills nature reserves and the elevated homes in the heights of the suburb are among Tuggeranong’s top sales.

Watson suits new parents’ way of life

Long-term inner north renters Richie Merzian and Sonya Tirtajaya decided to buy their first home after they had baby Julian last year.

Watson offered the ideal solution for their needs. Not only was it within the inner north, but it provided an affordable alternative to some of the other suburbs in the area.

After looking at the suburb, the couple discovered it had other benefits.

“It’s got a great community vibe, it’s close to the city and it’s close to people we know,” Sonya says.

“We found it was better suited to this stage of life. There are lots of young families with babies around Julian’s age.”

With daycare, preschool and primary school within five minutes from their home, they’ve found the perfect place for Julian to grow up in. Richie and Sonya prefer to use public transport when they can and they’re looking forward to having the light rail just a short stroll away.

“We have one car and we really don’t want to go to two,” Richie says.

The couple found their ideal home in March and purchased through Luton agents Jenny and Michael McReynolds.

It has a big backyard with a swing for Julian, a chicken coop and space for a vegie patch. Julian recently had his first birthday party in the backyard.

“There’s something special about Watson at the moment,” Sonya says.

“I’m continuously grateful that we made the choice to buy here.”

Cover property