Property prices in the Australian Capital Territory were fairly stagnant heading into 2025. House prices in Canberra grew just 0.7% in 2024 - Brisbane houses are now more expensive than the capital’s for the first time since the 90s.
Nevertheless, it remains one of Australia’s premier markets, and with the population expected to nearly double over the next 30 years or so, demand for property in Canberra probably isn’t going anywhere.
If you’re looking to invest and are prioritising high rental yields, these suburbs are where to look in the ACT at the moment.
Canberra rental yields in 2024
Houses in Canberra have an average yield of 3.6%. That’s higher than Melbourne and Sydney, but lower than the other five capital cities. For units, Canberra has an average rental yield of 5%, above Sydney, Melbourne, Adelaide, Hobart and below Brisbane, Perth and Darwin.
| Median price | Median weekly rent | Gross rental yield | |
|---|---|---|---|
| Houses | $940,000 | $660 | 3.6% |
| Units | $580,000 | $565 | 5.0% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over three months.
Houses
| Rank | Suburb (Postcode) | Median Price ($) | Weekly Median Rent ($) | Rental Yield (%) |
|---|---|---|---|---|
| 1st | Phillip (2606) | $552,500 | $550 | 5.2% |
| 2nd | Greenway (2900) | $597,500 | $520 | 4.5% |
| 3rd | Strathnairn (2615) | $885,000 | $765 | 4.5% |
| 4th | Belconnen (2617) | $649,000 | $549 | 4.4% |
| 5th | Charnwood (2615) | $680,000 | $575 | 4.4% |
| 6th | Isabella Plains (2905) | $793,750 | $670 | 4.4% |
| 7th | Gilmore (2905) | $835,000 | $693 | 4.3% |
| 8th | Denman Prospect (2611) | $1,200,000 | $995 | 4.3% |
| 9th | Latham (2615) | $792,000 | $650 | 4.3% |
| 10th | Banks (2906) | $735,000 | $600 | 4.2% |
| 11th | Holt (2615) | $762,500 | $615 | 4.2% |
| 12th | Monash (2904) | $827,000 | $660 | 4.1% |
| 13th | Calwell (2905) | $820,000 | $650 | 4.1% |
| 14th | Bonner (2914) | $880,000 | $693 | 4.1% |
| 15th | Dunlop (2615) | $826,500 | $650 | 4.1% |
| 16th | Richardson (2905) | $790,000 | $620 | 4.1% |
| 17th | Ngunnawal (2913) | $771,001 | $600 | 4.0% |
| 18th | Macgregor (2615) | $780,000 | $605 | 4.0% |
| 19th | Chisholm (2905) | $805,000 | $623 | 4.0% |
| 20th | Casey (2913) | $880,000 | $680 | 4.0% |
| 21st | Moncrieff (2914) | $1,000,000 | $770 | 4.0% |
| 22nd | Scullin (2614) | $750,000 | $575 | 4.0% |
| 23rd | Kambah (2902) | $850,000 | $650 | 4.0% |
| 24th | Higgins (2615) | $834,500 | $630 | 3.9% |
| 25th | Flynn (2615) | $868,000 | $653 | 3.9% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over one year.
Other than Phillip, there aren’t really any standout suburbs in this list. The spread from Greenway in second to Flynn in 25th is just 80 percentage points which probably isn’t enough to influence many investors' decisions.
These yields are pretty comparable to the equivalent list for Sydney.
Units
| Rank | Suburb (Postcode) | Median Price ($) | Weekly Median Rent ($) | Rental Yield (%) |
|---|---|---|---|---|
| 1st | Hawker (2614) | $360,000 | $480 | 6.9% |
| 2nd | Lyons (2606) | $365,000 | $475 | 6.8% |
| 3rd | Curtin (2605) | $377,500 | $490 | 6.7% |
| 4th | Macquarie (2614) | $482,500 | $600 | 6.5% |
| 5th | Gungahlin (2912) | $439,000 | $540 | 6.4% |
| 6th | Crace (2911) | $430,000 | $523 | 6.3% |
| 7th | City (2601) | $557,500 | $650 | 6.1% |
| 8th | Hughes (2605) | $331,500 | $380 | 6.0% |
| 9th | Belconnen (2617) | $480,000 | $540 | 5.9% |
| 10th | Red Hill (2603) | $715,000 | $780 | 5.7% |
| 11th | Wright (2611) | $514,500 | $550 | 5.6% |
| 12th | Braddon (2612) | $555,750 | $590 | 5.5% |
| 13th | Greenway (2900) | $500,000 | $530 | 5.5% |
| 14th | Lyneham (2602) | $521,250 | $550 | 5.5% |
| 15th | Franklin (2913) | $512,500 | $540 | 5.5% |
| 16th | Bruce (2617) | $542,500 | $560 | 5.4% |
| 17th | Harrison (2914) | $536,000 | $550 | 5.3% |
| 18th | Campbell (2612) | $627,500 | $643 | 5.3% |
| 19th | Phillip (2606) | $562,500 | $575 | 5.3% |
| 20th | Mawson (2607) | $472,500 | $480 | 5.3% |
| 21st | Reid (2612) | $580,000 | $580 | 5.2% |
| 22nd | Page (2614) | $595,000 | $593 | 5.2% |
| 23rd | Dickson (2602) | $625,000 | $615 | 5.1% |
| 24th | Chifley (2606) | $500,000 | $490 | 5.1% |
| 25th | Kambah (2902) | $587,500 | $570 | 5.0% |
Source: CoreLogic. Data reported to the period ending August 2024. Median values account for sales transactions over one year.
Yields for units in the ACT trend higher than for houses, which is generally the case - higher property values usually translates to lower rental yields. Again though, there aren’t too many standouts, although the 2606 postcode does pop up again a couple of times.
Picture from Social Estate on Unsplash
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