Canberra Property Market – Prices, Trends, Forecast [April 2026]

Canberra’s housing market is still moving higher, but it is doing so at a measured pace rather than with the sharp momentum seen in some other capitals. Dwelling values rose 0.4% over the month and 1.4% over the March 2026 quarter, taking annual growth to 6.1%. The median dwelling value now sits at $892,800, and total returns are running at 10.5%.

Even so, the market is not in full breakout mode. Canberra remains 0.8% below its May 2022 peak, which shows values have recovered well without yet fully clearing prior highs. Over the past five years, dwelling values are up 22.4%, pointing to a market that has delivered solid long-term gains while recently settling into a steadier, more balanced phase.

Key Takeaways

• Canberra dwelling values increased 0.4% in the month and 1.4% over the March 2026 quarter, showing modest but positive momentum.
• Annual dwelling value growth reached 6.1%, with the median dwelling value at $892,800.
• The market is still 0.8% below its May 2022 peak, so Canberra has improved but has not fully returned to its previous high.
• Over the past five years, Canberra dwelling values have risen 22.4%, underscoring solid long-run performance.
• House values are materially outperforming units, with annual growth of 7.7% for houses versus 1.0% for units.
• Rental conditions remain supportive, with gross yields at 4.0% overall and unit yields notably stronger at 5.3%.

See how Canberra’s property values have performed across houses and units over various timeframes, along with returns, yields, and median prices.

Canberra Property Price Growth

Price growth in Canberra has been positive, but clearly moderate. The 0.4% monthly rise and 1.4% quarterly lift place the city in growth territory, though below the stronger quarterly gains recorded in the faster-moving capitals. Annual growth of 6.1% is still healthy by normal standards, especially with the median dwelling value holding just under $900,000.

A closer look at property types shows where most of the momentum is coming from. House values increased 0.5% over the month, 1.5% over the quarter and 7.7% annually, lifting the median house value to $1,048,285. Units were much softer, rising 0.2% over the month and 0.9% over the quarter, with annual growth of just 1.0%, leaving the median unit value at $598,702.

Canberra Property Market Trends

Beneath the headline numbers, Canberra is looking increasingly like a market defined by stability rather than acceleration. Houses are doing the heavy lifting, while unit growth is far more subdued, suggesting buyers are still placing a premium on detached housing. That split also shows up in total returns, with houses at 11.9% versus 6.2% for units.

Rental settings remain supportive as well. Gross yields are sitting at 4.0% across dwellings, with houses at 3.6% and units at a stronger 5.3%, while annual rent growth is relatively modest at 2.9% for houses and 2.0% for units. Canberra also stands out as a city where value growth is less skewed by price tier than in many other capitals, which points to a more even market structure. Within the ACT, recent annual growth has ranged from 10.0% in Weston Creek to 4.1% in Molonglo, reinforcing that performance is still varying across submarkets.

The table outlines CoreLogic’s Home Value Index as of 1st April 2026, providing a snapshot of housing value performance across key indicators.

How to read these figures:

Canberra (-0.8% from peak; peak in May-22) shows the market remains slightly below its record high after peaking in May 2022; +22.4% over the past five years points to solid longer-term growth; and +1.4% over the March quarter 2026 indicates values continued to rise modestly over the quarter.

Canberra Property Market Forecast

Looking ahead, the most likely direction for Canberra is continued modest growth rather than a sharp upswing or a broad pullback. The market is already showing that pattern in the current data: values are rising, but only gradually, and Canberra remains slightly below its previous peak. That combination suggests a market with underlying resilience, but not one that is building strong speculative momentum.

The main reason growth is likely to stay restrained is the broader demand backdrop. Affordability is stretched, mortgage serviceability settings are tight, and many borrowers effectively need to prove they can manage a new loan at around 9.0%. At the same time, wage growth is not keeping pace with inflation, cost of living pressures remain elevated, and confidence has softened. Those conditions tend to weigh most heavily on higher-priced purchases and limit how far demand can stretch.

That said, Canberra should still have some protection against a sharp downturn. Supply remains tight in aggregate, the labour market is still a key stabiliser, and policy support for first home buyers continues to provide some assistance at the lower end of the market. The result is a forecast that looks balanced but cautious: Canberra is likely to keep edging higher, though gains should remain uneven and relatively contained, with houses better placed than units if current trends persist.

The Reserve Bank of Australia’s ongoing adjustments to interest rates will likely play a crucial role in shaping market dynamics, as higher borrowing costs limit purchasing power for many buyers.

Here are some of the most recent forecasts by the big-4 banks in Australia:

• ANZ predicts a 5-6% increase in capital city property prices in 2024, with Brisbane expected to see the highest rise at 9-10%, Perth property values could go up by 1-11%, Sydney by 4-5%, and Melbourne prices by 2-3%.
• CBA forecasts a 5% rise in capital city prices, with some variations: Brisbane is anticipated to grow by 6%, Melbourne and Perth by 5%, Sydney by 4%, and Adelaide by 1%.
• NAB projects a 5.4% average increase across the capitals, with Brisbane expected to see a 6.5% rise, Perth and Adelaide by 6.2%, Melbourne by 5.5%, Sydney by 5%, and Hobart remaining flat.
• Westpac expects a 6% growth across the combined capitals, with Perth leading at 10%, followed by Brisbane at 8%, Sydney at 6%, Adelaide at 4%, and Melbourne at 3%

Oxford Economics recently released property forecasts predicting where house prices will be in three years.

Conclusion

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