True to Walter Burley Griffin’s original town plan, Canberra’s oldest suburbs are topping the charts for house sale prices.
So where are Canberra’s most expensive suburbs?
Forrest topped the list of the most expensive suburb in Canberra with a median sold price of $2.52 million, followed by Yarralumla at $1.54 million andGriffith at $1.4 million.Scroll down further for the full list.
Houses in Forrest top the chart in Canberra. Picture: realestate.com.au/buy
Canberra’s most expensiveneighbourhoods range in price from $978,500-$2.52 million,CoreLogic data for the 12 months to 30 April 2017 shows.
These figures represent the median sold price for properties in suburbs with at least 10 sales for those 12 months.
So what attracts buyers to these upmarket neighbourhoods?
1. Forrest – $2,520,000
Where your home offers enough space for work and play. Picture: realestate.com.au
Topping the charts at number one is the suburb of Forrest.
Neighbouring the Parliamentary Triangle, and just five kilometres from the city centre,Forrestis a traditional planned suburb, and is home to many embassies and private diplomatic residences.
2. Yarralumla – $1,540,000
This four-bedroom home in Yarralumla is currently on the market for $1,890,000. Picture: realestate.com.au
At number two, is the suburb of Yarralumla.
This leafy suburb enjoys lake-frontage and rubs shoulders with the Governor General’s residence, as well as the prestigious grounds of the Royal Canberra Golf Club.
Typically featuring older style residences,Yarralumla is a renovator’s dream, with many properties offering the perfect bones for modern refurbishment, whilst maintaining traditional charm and character.
3. Griffith – $1,400,000
Imagine dinner parties on the deck that ease you into the evening. Picture: realestate.com.au
Perfectly located in Canberra’s inner south Griffith is home to top restaurants, close to schools, parks and the trendy shopping precinct of Manuka and Kingston.
4.Reid – $1,400,000
Tree-lined, quiet streets are a common and desirable feature in Reid. Picture: realestate.com.au
With a prime inner-North location, just 1km from the city centre,Reid is a traditional suburb which enjoys large blocks with leafy surrounds.
Noted for its beautifully maintained gardens, Glebe Park joins Reid to Canberra’s CBD.
5. Turner – $1,300,000
The suburb of Turner sees a mix of traditional and modern architecture. Picture: realestate.com.au
This inner-north suburb sits adjacent to the city’s Northern corridor of Northbourne Avenue.
Due to its close proximity to leading university campuses, Turner welcomes a high population of students and young people.
6. Red Hill – $1,280,000
This stunning four-bedroom home in Red Hill is currently listed for auction. Picture: realestate.com.au
Located just 8km from Canberra’s CBD, Red Hill has long been home to high-endproperties, which afford beautiful views, nestled on the foothills of Red Hill Lookout and surrounds.
7. Braddon – $1,200,000
Hip inside and out,this three-bedroom home in Braddon is currently on the market at $775,000+. Picture: realestate.com.au
Previously a trade and industry hub, the trendy, cultural suburb of Braddon has been transformed into a hipster haven and foodie heaven, dotted with boutique bars, shops and restaurants.
Londsdale Street has become a thriving thoroughfare, home to new apartment developments within eight minutes’ walk to the city centre and amenities.
8.Campbell – $1,200,000
This Campbell home sold for $1,150,000 in July. Picture: realestate.com.au
Located at the base of Mount Ainslie, Campbell is home to the iconic Australian War Memorial, one of the most noted national attractions in the country.
Campbell also hosts organisations including Royal Military College, Duntroon, theAustralian Defence Force Academy, and theCSIROCorporate Headquarters.
9. Deakin – $1,170,000
This gorgeous home in Deakin sold earlier in the year for $1,175,000. Picture: realestate.com.au
Largely a residential suburb, the popular suburb of Deakin also houses the official residence of the Prime Minister, The Lodge, and is home to the Royal Australian Mint.
10. O’Connor – $978,500
A beautiful modern, light-filled home in O’Connor.Picture: realestate.com.au
Just 4km from the CBD, O’Connor is a leafy suburb which features mostly detached, single dwelling houses.
Like most inner-north Canberra suburbs, O’Connor is seeing the rise of property development by way of apartment-style complexes.
I've been deeply entrenched in real estate analysis, especially pertaining to Canberra's property market and suburb dynamics. The article provides a comprehensive rundown of Canberra's most expensive suburbs, offering insights into their distinctive features and attractions for potential buyers. It delves into the median sold prices, neighborhood highlights, and unique aspects characterizing each area.
Let's break down the concepts used:
Median Sold Prices:
The article highlights the median sold prices in Canberra's upscale neighborhoods over a specific period (12 months until April 2017). This data is crucial in understanding the price range and market trends within these affluent areas. For instance:
- Forrest tops the list at $2.52 million.
- Yarralumla follows at $1.54 million.
- Griffith at $1.4 million, and so on.
Suburb Features and Highlights:
The descriptions emphasize the unique attributes and allure of each suburb, influencing their desirability among buyers. These include:
- Forrest: Proximity to the Parliamentary Triangle, diplomatic residences, and spacious living.
- Yarralumla: Lake-frontage, proximity to significant establishments like the Governor General’s residence and the Royal Canberra Golf Club.
- Griffith: Inner south location, near prominent amenities like schools, parks, and shopping precincts.
Neighborhood Characteristics:
The article also touches on the characteristics that define these suburbs:
- Reid and Turner: Mention of their proximity to the city center and university campuses.
- Red Hill: Noted for its scenic views and high-end properties.
- Braddon: Transformation from an industrial hub to a trendy hotspot with boutique shops and eateries.
Historical and Institutional Significance:
Several suburbs hold historical or institutional importance:
- Campbell: Home to the Australian War Memorial and significant defense establishments.
- Deakin: Houses The Lodge (official residence of the Prime Minister) and the Royal Australian Mint.
Property Market Trends:
The descriptions also hint at evolving property trends:
- O’Connor: An area experiencing a rise in property development, especially apartment-style complexes.
Each suburb has its unique draw, whether it's historical significance, natural beauty, proximity to amenities, or potential for property development. Understanding these aspects can influence buyers' decisions and investment strategies in Canberra's real estate market.
