Unit prices rebound in Canberra

The Canberra unit market is showing renewed strength, with prices making a comeback after a softer 2024.

Domain’s House Price Report for the June 2025 quarter reveals that unit prices in the ACT climbed 4.6 per cent or $27,033 to reach a median of $610,752 – the strongest quarterly growth in almost two years.

AM Property’s Luke Lindley said their agency had witnessed a noticeable uptick in attendance at open homes.

“The market is feeling more positive and the potential for an interest rate cut when the RBA meets next week is certainly helping,” he said. “We’re emerging from a bleak period and many buyers are eager to act early to beat the spring rush.”

Lindley noted strong enquiry for units from both first-home buyers, who are drawn by affordability, and seasoned investors targeting higher rental returns.

Molonglo emerged as a standout performer, with unit prices surging 7.4 per cent for the quarter to a median of $580,000, returning to their previous peak.

Tuggeranong also recorded growth, with a 1.6 per cent quarterly increase, matching its annual growth figure and suggesting steady upward momentum. In North Canberra, units rose 1.7 per cent over the quarter to a median of $595,000.

Even in regions where quarterly figures dipped slightly, such as Belconnen (-1 per cent) and Gungahlin (-3.9 per cent), values remain comparatively strong, with median unit prices exceeding $530,000.

This uplift reflects a broader shift in momentum, with Canberra among several capitals where quarterly unit price growth accelerated sharply. The recovery has narrowed the gap between houses and units, signalling growing demand for more affordable housing options across the territory.

Unit prices now sit just 2.9 per cent below their September 2023 peak, having regained two-thirds of their earlier decline.