One inner-city suburb is blowing the competition away, with Ainslie recording a 32.6 per cent house price jump over the last year to $1.16 million, according to Domain Group data. Canberra’s overall house price median is sitting at $740,215.
The growth in Ainslie is believed to be attributed to the rejuvenation of the city, in particular Braddon’s Lonsdale Street. Given Ainslie is on the fringe of the city, it location is a strong drawcard for potential buyers. The classic red-brick Canberra home, is also highly sought after for buyers.
In September, Ainslie recorded its first sale above $2 million. It was a custom-designed home, that raised the bar to $2.15 million, breaking the previous suburb record by $175,000.
Among suburbs with more than 50 sales in the past 12 months, Palmerston and O’Connor also recorded strong growth in house prices, coming in second and third, up 21.4 per cent and 19.6 per cent respectively. Coming in fourth was Narrabundah with the suburb’s median house increasing by 13.5 per cent.
In the unit market, Dickson was a clear winner with prices up 11.1 per cent to $539,000. This comes as an array of developments have hit the market in Dickson over recent months including stage one of both Doma Group’s DKSN and Art Group’s Soho. The light rail project, is also a contributing factor to the growth in this area, with quick access down Northbourne Avenue into the city.
Canberra’s top performing markets by suburbs
Highest sale: $1.16 million
Highest sale: $667,500
Highest sale: $1.172 million
Highest sale: $940,000
Highest sale: $535,000
Highest sale: $586,000
Highest sale: $575,000