As it stands, there are approximately 60 per cent of buyers looking for properties in the $600,000 price range, with many looking to capitalise on securing a property before the ACT Government’s stamp duty abolition (for first home buyers) comes into effect on July 1. Real estate agents are anticipating that suburbs with a median house price under $600,00 will see a spike in demand.
Domain property data reveals that there are currently 17 suburbs in Canberra with a median house price under $600,000. There are nine suburbs in Tuggeranong, seven in Belconnen and one in Gungahlin.
The most affordable suburb in Canberra is Banks, where the median house price sits at $500,000 followed by north-side suburb, Macgregor which has the second-lowest median at $515,000 and coming in third is Ngunnawal in Gungahlin at $520,000.
Currently Canberra’s overall median house price stands at $738,933.
Isabella Plains $575,000