Most Affordable Suburbs in Canberra (2025 Guide)

Finding an affordable home in Canberra can feel like a challenge, especially as prices across the ACT have grown steadily over the past few years. But the good news is there are still suburbs where buyers and renters can get good value for money without giving up lifestyle, transport, or access to work.

In this guide, you’ll learn which Canberra suburbs are most affordable in 2025, based on the latest data from CoreLogic, PropTrack, and Allhomes. We’ll break down house and unit medians, rental prices, and who each suburb might suit best for first-home buyers to investors and families on a budget.

You’ll also find insights on what makes these suburbs affordable, what trade-offs to expect, and how to choose the right area for your needs. Whether you’re saving for your first property, looking for an investment with better yields, or simply hoping to reduce your living costs, this guide will help you shortlist Canberra’s best-value postcodes.

Next step: If you’re thinking of buying or selling in Canberra, it helps to speak with a trusted local expert. You can compare top Canberra agents here.

Canberra Property Market Now

Canberra’s property market in 2025 has settled into a steady rhythm after the sharp rises seen during the pandemic years. According to CoreLogic’s August 2025 data, the median house value in the ACT sits around $930,000, while units average roughly $630,000.

While this makes Canberra one of Australia’s more expensive capitals per square metre, not all regions are equal. Outer and middle-ring suburbs, especially those in Tuggeranong, Belconnen, and Gungahlin continue to offer prices well below the territory median.

Why affordability varies across Canberra

• Location and commute: Suburbs 15–25 minutes from Civic often have larger blocks and lower land values than inner-north or inner-south areas.
• Property type: Units and townhouses are generally much cheaper than standalone houses, making them appealing for first-home buyers.
• Stock and supply: Many affordable suburbs have a higher mix of 1980s–2000s homes, which keeps entry prices realistic.
• Rental yields: Some areas with lower purchase prices (like Charnwood or Banks) show stronger rental returns, attracting investors.

According to PropTrack’s September 2025 report, median house prices in several Canberra suburbs still sit 20–35% below the ACT median, providing solid opportunities for buyers who prioritise value over proximity to the city centre.

If you’re searching for affordability in Canberra, it often means looking just beyond the inner ring to well-connected communities with local shops, parks, and public transport that make day-to-day life easy without the premium price tag.

How We Chose Canberra’s Affordable Suburbs

To create this list, we analysed data from CoreLogic and PropTrack, focusing on suburbs that combine lower median prices with strong livability factors. The goal: highlight areas where affordability doesn’t mean compromise.

Here’s what we looked at:

• Median sale price (houses and units): Suburbs with prices well below the ACT-wide median for 2025 were prioritised.
• Rental affordability: Areas where rent remains within reach for singles, couples, and families compared to territory averages.
• Commute time: Travel distance to Civic, Belconnen, or Woden employment hubs.
• Local amenities: Schools, parks, medical centres, and shopping access that add everyday convenience.
• Market activity: Suburbs showing steady buyer demand and moderate price growth rather than sudden spikes.

We’ve also included recent price trends (12-month change) where available, so you can see how each suburb is performing. Property prices move quickly, and medians can shift month-to-month. Always check the latest listings and suburb reports on trusted sites like Allhomes or Domain before making decisions.

Curious what your Canberra home is worth?

Get a free property value estimate and see how your home compares to others in your suburb.

Get My Free Report

Top 6 Most Affordable Suburbs in Canberra Right Now

Even as Canberra’s overall housing market remains one of the strongest in Australia, several suburbs continue to offer a gentler entry point for buyers and renters. Below are the most affordable areas in 2025, drawn from CoreLogic and PropTrack median data as of September 2025.

Each of these suburbs combines good value with liveability meaning access to public transport, green spaces, and community facilities that make everyday life comfortable and connected.

1. Charnwood (Belconnen District)

Median house price: $690,000
Median unit price: $495,000
Median weekly rent: $610
Gross rental yield: Approx. 4.6%

Why it’s affordable:
Located about 15 km northwest of Civic, Charnwood offers one of the lowest house medians in the Belconnen region. Much of its housing stock dates from the 1970s and 1980s, with solid brick homes on larger blocks — ideal for buyers willing to renovate or upgrade over time.

Lifestyle snapshot:
Charnwood has its own local shops, medical centre, and several schools, including Charnwood-Dunlop School. Nearby suburbs like Flynn and Fraser provide extra parklands and easy access to Belconnen’s shopping precinct. Public transport links to the city take around 25–30 minutes.

Who it suits: First-home buyers, growing families, and investors chasing stronger rental yields.

Watch-outs:
Older housing may need updates, and competition for move-in-ready homes can be strong.

2. Banks (Tuggeranong Valley)

Median house price: $730,000
Median unit/townhouse price: $570,000
Median weekly rent: $620
Gross rental yield: Approx. 4.4%

Why it’s affordable:
Banks sits at the southern edge of Canberra, surrounded by nature reserves and family-friendly streets. It’s further from Civic (roughly 25–30 minutes by car), which helps keep house prices below the ACT average.

Lifestyle snapshot:
Expect tree-lined streets, mountain views, and access to Tuggeranong Hill Nature Reserve. The suburb has local playgrounds, a small shopping centre, and good schools in nearby Conder and Gordon.

Who it suits: Families wanting more space for their money, or buyers who prefer quieter suburbs over inner-city bustle.

Watch-outs:
Limited public transport and fewer dining/entertainment options compared to inner Canberra.

3. Ngunnawal (Gungahlin Region)

Median house price: $780,000
Median unit/townhouse price: $620,000
Median weekly rent: $640
Gross rental yield: Approx. 4.2%

Why it’s affordable:
One of the most popular suburbs in north Canberra, Ngunnawal offers a mix of new and established housing, from compact townhouses to larger family homes. While not the cheapest, its relative affordability compared to nearby Nicholls and Amaroo makes it a good value-for-location option.

Lifestyle snapshot:
The suburb has strong community facilities such as Ngunnawal Primary School, parks, and proximity to Gungahlin Town Centre. Light rail access from nearby stops makes commuting to Civic more manageable (about 35 minutes total).

Who it suits: First-home buyers wanting a balance of affordability and accessibility.

Watch-outs:
Townhouses dominate some pockets; detached homes at lower prices can sell quickly.

4. Evatt (Belconnen District)

Median house price: $795,000
Median unit/townhouse price: $615,000
Median weekly rent: $650
Gross rental yield: Approx. 4.1%

Why it’s affordable:
Evatt offers good value for a Belconnen suburb that’s just 12 km from the CBD. The area is well-established, with a strong community feel and excellent access to schools and parks. While prices have risen modestly, they remain below nearby McKellar and Giralang.

Lifestyle snapshot:
Close to Lake Ginninderra and the Belconnen Town Centre, with leafy streets and a number of good primary schools. Public transport routes are frequent, and local shops cover essentials.

Who it suits: Families or upgraders wanting access to north Canberra amenities without inner-city prices.

Watch-outs:
Some 1970s-built homes may require cosmetic upgrades; land size drives price differences.

5. Calwell (Tuggeranong District)

Median house price: $745,000
Median unit/townhouse price: $580,000
Median weekly rent: $625
Gross rental yield: Approx. 4.3%

Why it’s affordable:
Calwell sits just east of Tuggeranong’s main centre, offering easy access to the Monaro Highway and Woden. Despite its great transport links, it remains one of the district’s most affordable family areas.

Lifestyle snapshot:
Calwell Shopping Centre anchors the suburb, with multiple schools, childcare centres, and sporting facilities nearby. Large green spaces and quiet residential streets make it family-friendly. Commute to Civic is around 25 minutes by car.

Who it suits: Families, upgraders, and investors seeking solid long-term rental demand.

Watch-outs:
Older homes may have dated interiors, and steep blocks are common in some areas.

6. Holt (Belconnen District)

Median house price: $735,000
Median unit/townhouse price: $575,000
Median weekly rent: $620
Gross rental yield: Approx. 4.4%

Why it’s affordable:
Holt continues to rank among Canberra’s most budget-friendly northside suburbs. Located around 15 km from Civic, it offers solid homes, golf course views, and a close-knit community atmosphere.

Lifestyle snapshot:
Holt is home to the Belconnen Magpies Golf Club, several parks, and Kingsford Smith School. Nearby Kippax Fair provides convenient shopping and services.

Who it suits: First-home buyers and retirees wanting value without moving far from amenities.

Watch-outs:
Some properties back onto main roads or older housing pockets, so inspect carefully before buying.

Canberra’s Affordable Suburbs Side by Side

*FHB means First Home Buyers

Cheapest for Buyers vs Renters

Not all “affordable” suburbs are the same. Some are cheaper to buy in (lower purchase price), while others are cheaper to rent in (lower weekly rent). The right choice depends on your budget, deposit, borrowing power, and how long you’ll stay. Below, we break it down:

Buying on a budget

When you’re buying, the key number is the median sale price (the middle price of recent sales). In Canberra, “affordable to buy” usually means suburbs where:

• House medians sit well below the ACT-wide median (often in Tuggeranong or Belconnen pockets).
• Unit/townhouse medians are markedly lower than house prices, often offering a smoother entry point for first-home buyers.
• Days on market are reasonable (not too hot), so you have time to inspect, get a building/pest report, and make a considered offer.

How to compare quickly (step-by-step):

1. Pick your price ceiling. Work out how much you can borrow and repay comfortably each month (include rates, insurance, and maintenance).
2. Shortlist 3–5 suburbs where recent house or unit medians fall within your budget.
3. Scan 3 months of recent sales (on Allhomes/Domain) to see what your money actually buys (block size, renovation level, parking).
4. Check transport time to Civic or your workplace at your typical commute hour. If you’re remote-friendly, a slightly longer commute can unlock better value.
5. Weigh trade-offs: a freestanding house further out vs a newer townhouse closer in. Larger block vs lower maintenance.

Houses or Units?

• Houses: More land, room to grow, potential to add value with renovations. Higher entry price and ongoing costs.
• Units/townhouses: Lower buy-in, modern builds, close to shops/transport. Body corporate fees apply; less control over external changes.

If your deposit is tight, unit or townhouse stock in value suburbs (e.g., parts of Belconnen, Tuggeranong, and Gungahlin) can make home ownership possible sooner while keeping weekly repayments manageable.

Renting on a budget

“Affordable to rent” focuses on median weekly rent and the size/type of home you need:

• 2-bedroom units often deliver the lowest weekly rent and energy costs.
• 3-bedroom houses cost more weekly but may suit families who need a yard and extra space.
• Older but well-kept homes in outer-ring suburbs can be strong value if you’re flexible on finishes.

How to compare rent quickly (step-by-step):

1. Set your weekly budget (aim for no more than ~30% of take-home pay, if possible).
2. List 3–5 renter-friendly suburbs where typical weekly rent meets your target for your needed dwelling size.
3. Check actual listings for what’s included (heating/cooling, parking, storage, energy rating).
4. Factor transport costs: a cheaper rent far from work can be wiped out by petrol/parking.
5. Inspect mid-week if you can because it has fewer crowds and it means a better chance to apply successfully.

If you expect to stay less than 2–3 years or may relocate for work/study, renting can be simpler and cheaper overall than buying, even if repayments appear similar on paper.

Yield Overview for Investors

Gross rental yield tells you how much rent a property earns each year before costs, as a percentage of the purchase price.

How to calculate gross yield:

• Annual rent ÷ purchase price × 100.
• Example: $620/week rent ≈ $32,240 per year. On a $735,000 buy-in, yield ≈ 4.4%.

Why affordable suburbs often have stronger yields:

• Lower buy-in + steady rental demand (near schools, shops, transport) = higher gross yield.
• Units/townhouses can out-yield houses in some pockets due to lower prices and consistent tenant demand.

But remember net reality:

• Net yield subtracts expenses (rates, insurance, maintenance, strata, interest, property management).
• Always model cash flow (best/worst case) and vacancy risk.

If you’re an investor, look for suburbs where: purchase prices are below the territory median, tenant demand is steady, and amenities are improving (transport upgrades, local centres). A good buyer’s checklist can help you compare properties within the same suburb for yield vs maintenance costs.

What Makes a Suburb “Affordable” in Canberra?

Affordability isn’t just about price, it’s about value for money. In Canberra, a suburb is often called “affordable” if it offers lower-than-average property prices without sacrificing liveability like access to shops, schools, transport, and green space.

Here’s what drives affordability across the ACT today.

1. Housing supply and property type

The biggest influence on price is what kind of homes a suburb has.

• Suburbs with more units or townhouses like Belconnen or Gungahlin usually have lower entry prices because apartments cost less to build and maintain than detached houses.
• Areas with older homes (1970s–1990s) often remain cheaper because they might need updating though the structure is often solid.
• Newer estates with high land prices or premium finishes tend to sit above the ACT median.

For example, Tuggeranong suburbs like Banks and Calwell have a mix of older homes and smaller blocks, keeping prices lower than northern districts. In contrast, inner-south suburbs like Narrabundah or Kingston are mostly modern and tightly held, driving up prices.

Tip for buyers: If you’re flexible on home style, looking at townhouses or older homes on quiet streets can save hundreds of thousands compared to new builds in the same region.

2. Distance from Civic (the CBD)

Canberra’s geography means the closer you are to Civic, the higher the price per square metre.

• Inner-north and inner-south homes near Civic or Barton fetch premium prices because of short commutes and lifestyle appeal.
• Middle and outer-ring suburbs roughly 15–25 km from the CBD tend to be more affordable simply because they’re further out.

But unlike Sydney or Melbourne, Canberra’s commute times are still manageable. Even from Tuggeranong or Gungahlin, most residents can reach Civic in under 35 minutes by car or bus, making outer suburbs realistic options for working professionals.

Check transport routes before ruling out a suburb. Many “cheaper” suburbs now have rapid bus routes or light rail access, which boosts convenience (and long-term value).

3. Public transport and upcoming infrastructure

Affordability often reflects how well-connected a suburb is  or isn’t (yet).

• Suburbs awaiting transport or road upgrades often remain cheaper until those projects are completed.
• Light rail Stage 2 (planned to extend to Woden) and road upgrades along the Monaro and Barton Highways may improve access which could lift prices in nearby areas over time.
• Areas near major bus interchanges (like Gungahlin and Woden) tend to attract renters, keeping yields strong.

Ngunnawal and Holt remain affordable compared to inner-north neighbours but already benefit from direct bus links to Civic and Belconnen. When infrastructure catches up, these suburbs often see steady price appreciation.

4. Local amenities

Suburbs with essential amenities close by even if they’re not flashy tend to maintain consistent demand.

• Schools and childcare centres attract families.
• Shops, medical clinics, and recreation centres add daily convenience.
• Parks, walking trails, and lakes improve liveability and long-term value.

Affordable suburbs like Calwell and Banks score well here. They may lack the trendiest cafes or nightspots, but they offer peace, greenery, and family infrastructure at lower prices. Liveability doesn’t mean luxury. Focus on what makes your day-to-day life easier like safe streets, nearby supermarkets, and a short school run rather than postcode prestige.

5. Future growth potential

Finally, a suburb may be “affordable” now simply because it’s early in its growth cycle.

• When new facilities, schools, or transport links arrive, demand tends to follow.
• Investors often look for below-median suburbs with steady population growth or upcoming infrastructure.

The key is balance, you want affordability and fundamentals that signal long-term value. Ngunnawal was once considered fringe; now it’s one of Gungahlin’s most desirable affordable pockets thanks to infrastructure investment and light rail proximity.

Conclusion

Finding an affordable home in Canberra isn’t about settling for less, it’s about finding smart value in the right suburb. From Charnwood to Calwell, these areas offer space, community, and potential for long-term growth, even as the wider ACT market matures. Whether you’re stepping onto the property ladder or planning to sell, knowing where your suburb stands and having the right agent beside you can make every decision easier and more rewarding.

Now’s the time to explore your options, compare trusted agents, and move confidently toward your next home or investment in Canberra.

FAQs

Related Readings

• Map: The Salary You Need to Buy In Each Australian City
• Fastest Growing Suburb in Canberra
• Most Affordable Suburbs in Perth (2025 Guide)
• Will House Prices Ever Go Down in 2025-2026?
• When Will Australian House Prices Crash? Forecast 2025–2027
  
• Best Time to Sell Property
• Property Clock: Which Property Markets Are Rising, Peaking, or Falling?
• How to Sell Your Property [2025 Guide]
• Agency Agreements: 2025 Guide
• Exclusive Listing Agreement – Pros & Cons
• Australian Property Market – Prices, Trends, Forecast
• Costs To Sell A Property in Canberra