Canberra property market data, trends, forecasts

Canberra property market news - key takeaways

• Values easing across the board: The Canberra property market recorded a -0.6 per cent monthly decline in June 2026, extending a quarterly fall of -1.3 per cent, with houses and units both pulling back.
• Stock levels building: Total listings rose +12.4 per cent year on year, giving buyers noticeably more choice than a year ago and adding to the conditions that are moderating price competition.
• Auction results favour buyers: Canberra's clearance rate sat at 51.7 per cent for the week ending 12 July 2026, a soft result that signals buyers hold the stronger negotiating position at auction right now.
• Rental yields hold firm: Canberra's gross rental yield of 4.2 per cent sits above the combined capitals average of 3.5 per cent, even as annual rent growth of +3.2 per cent tracks below most other capital cities.
• Rate cuts still a long way off: With the RBA cash rate at 4.35 per cent and the major banks not expecting cuts until mid-to-late 2027 at the earliest, borrowing costs are likely to remain a brake on buyer demand through the rest of 2026.

Canberra property price movements

The Canberra property market recorded further softening in June 2026, with values easing across both houses and units. Annual growth remains positive, though the quarterly trend has turned downward.

Canberra property prices - June 2026

Canberra home values slipped -0.6 per cent over the month in June 2026, extending a quarterly decline of -1.3 per cent. Annual growth of +2.9 per cent keeps the headline figure in positive territory, but the direction of monthly and quarterly momentum is clearly downward.

^{Source: Cotality}

The median home value in Canberra sat at $885,254 in June 2026, down around $5,321 on the prior month. Values remain -2.9 per cent below their May 2022 peak, meaning the city has not yet recovered the ground lost from that high point.

House prices in Canberra

Canberra house prices eased -0.7 per cent in June 2026, a slightly steeper monthly pull-back than the broader dwelling market. Over the quarter, Canberra housing market conditions weakened by -1.5 per cent, though annual growth of +3.5 per cent keeps prices ahead of where they were a year ago.

^{Source: Cotality}

The median house value reached $1,035,828 in June 2026, down around $7,270 from the prior month. Houses have held a stronger annual growth rate than units, suggesting detached properties have retained relative demand despite the broader softening.

Unit prices in Canberra

Canberra unit prices edged lower by -0.2 per cent in June 2026, a softer monthly decline than houses recorded over the same period. Annual growth of +0.7 per cent points to little net gain in unit values over the past year, with Canberra unit prices broadly tracking flat on a twelve-month view.

^{Source: Cotality}

The median unit value was $597,430 in June 2026, down around $1,195 over the month. The gap between house and unit annual growth rates, +3.5 per cent versus +0.7 per cent, shows buyers have been more reluctant at the unit end of the market across the past year.

Canberra property market forecasts 2026

Australia's Big Four banks publish house price forecasts annually as part of their economic research divisions' outlook work, and views on Canberra for 2026 differ considerably across the four. With the cash rate holding at 4.35 per cent and affordability under pressure, the range of predictions reflects genuine uncertainty about how Canberra's market will perform through the second half of the year.

• CBA does not publish a separate dwelling price forecast for Canberra.
• Westpac does not publish a separate dwelling price forecast for Canberra.
• NAB's published forecast is at the Australian Capital Territory state level; it predicts dwelling prices to fall -3.8 per cent over the next 12 months across the ACT.
• ANZ predicts Canberra property prices to rise +1.6 per cent over 2026.

The spread in Canberra house price forecasts for 2026 is wide. ANZ sits at the optimistic end with +1.6 per cent growth, while NAB's ACT-level figure of -3.8 per cent represents the most pessimistic view, though it bears noting that NAB's number covers the broader territory rather than Canberra specifically, so direct comparison with ANZ's city forecast carries a degree of caution. The gap between those two positions is more than five percentage points, which tells you something about how divided professional opinion is on the Canberra property market outlook right now.

RBA cash rate forecast 2026

The RBA cash rate currently sits at 4.35 per cent, and the major banks are split on where it heads from here. Three of the four, ANZ, CBA, and NAB, expect the next move to be a cut, but Westpac alone forecasts further rises, making for a genuinely divided outlook heading into the second half of 2026.

According to Canstar:

• ANZ predicts that we’ll see 25 basis point cuts in September and December of 2027, bringing the cash rate to 3.85% by the end of next year.
• CBA predicts that we’ll see 25 basis point cuts in May and August of 2027, bringing the cash rate to 3.85% by the third quarter of next year.
• NAB predicts that we’ll see 25 basis point cuts in June, September and December of 2027, bringing the cash rate to 3.60% by the end of next year.
• Westpac currently predicts two more 25 basis point hikes in August and September, bringing the cash rate to 4.85%.

What this means for the Canberra market

At 4.35 per cent, the cash rate is already weighing on borrowing capacity for Canberra buyers, where the median house price of $1,035,828 means even modest shifts in servicing costs translate to meaningful changes in what buyers can afford. For most households, the difference between the Westpac scenario and the NAB scenario represents tens of thousands of dollars in borrowing capacity.

The rate divergence also complicates the picture when set alongside the price forecast spread. If Westpac's rate call proves correct, the downward pressure on Canberra values would likely intensify, pulling the outcome closer to NAB's -3.8 per cent territory than ANZ's +1.6 per cent. Units, where the median sits at $597,430, may be somewhat more insulated than houses given the lower debt levels involved, but both segments are exposed to the same rate environment.

NAB's ACT forecast predates the current cash rate level, so its -3.8 per cent view may already be incorporating assumptions that have shifted since publication. Views across the board could be revised as the rate path becomes clearer through the second half of 2026.

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Canberra house prices graphs and charts

Canberra's house price growth over the last 5 years has followed a pattern of sharp rises, a peak in mid-2022, and a gradual drift lower since, with the current market sitting -2.9 per cent below that peak. According to Cotality's latest figures, Canberra dwelling values slipped -0.6 per cent over the month, -1.3 per cent over the quarter, and are now +2.9 per cent higher than a year ago, with the median dwelling value sitting at $885,254.

The five-year arc reflects the same forces that shaped markets nationally: an extraordinary surge in values during the low-rate environment of 2020 to 2022, followed by the weight of successive rate rises as the RBA lifted the cash rate to 4.35 per cent. Total listings in Canberra are running well above year-ago levels, homes are taking longer to sell at a median of 48 days, and buyers are negotiating from a position of greater choice than they had 12 months ago.

Canberra selling statistics

Canberra's selling market in June 2026 presents a mixed picture. Sales activity has picked up solidly over the past year, but homes are taking longer to sell than in most other capital cities, and total stock on market is growing. Sellers are operating in a more measured environment than a year ago.

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Canberra sales volume and days on market

Sales volumes in Canberra rose +8.6 per cent year on year, a notably stronger result than the combined capitals aggregate, which slipped -0.7 per cent, and the national figure of +2.1 per cent. At the same time, the median days on market eased from 55 days a year ago to 48 days, a genuine improvement in selling speed even if Canberra still sits well above both the combined capitals median of 30 days and the national median of 32 days.

^{Source: Cotality}

Canberra's sales volume growth is one of the stronger readings among the capitals right now, suggesting there is active transactional demand in the market. But the days-on-market gap relative to the combined capitals (18 days longer) tells a more measured story: homes are moving faster than they were, yet sellers still need to allow considerably more time to reach a buyer than their counterparts in cities like Perth or Brisbane.

Canberra new and total listings

New listings in Canberra rose +7.5 per cent year on year, while total listings climbed +12.4 per cent over the same period. Both figures point to a market where supply is building at a meaningful pace.

^{Source: Cotality}

A +12.4 per cent rise in total listings means buyers have noticeably more choice than they did a year ago. That expanding pool of available stock tends to moderate price competition, and it fits with the easing in values Canberra recorded over the June quarter. For sellers, it means pricing accurately from the outset matters more when buyers have a wider range of comparable properties to consider.

Canberra vendor discount and auction clearance rates

Vendor discount measures the gap between a property's original asking price and what it ultimately sells for, expressed as a percentage. Auction clearance rates measure the share of properties taken to auction that result in a sale on the day. Together they offer a reasonably clear read on where negotiating conditions sit at any given point in time.

Canberra vendor discount over time

^{Source: Cotality}

Canberra's vendor discount narrowed from -3.5 per cent a year ago to -3.1 per cent in the most recent period. That means sellers are, on average, accepting offers closer to their asking price than they were twelve months back, a modest improvement in conditions even as values have edged lower quarterly.

Canberra auction clearance rates

^{Source: Cotality}

For the week ending 12 July 2026, Canberra recorded a clearance rate of 51.7 per cent from 60 auctions. That is a soft result by any measure: at the long-run benchmark of around 64 to 70 per cent for a balanced-to-firm market, a rate in the low 50s sits clearly in buyer-favourable territory. Of the 60 auctions reported, 17 passed in and 12 were withdrawn, which means a meaningful share of sellers did not achieve a result on the day.

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Canberra property investing

Canberra's rental market is delivering a steady income stream for investors, with rents rising and yields sitting above the combined capitals average. For renters, conditions remain tight relative to the broader supply picture, though vacancy has edged higher over the past year.

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Canberra rental market

The table below covers annual rent growth, gross rental yield, and the split between houses and units for Canberra and each major capital, drawing on the latest Cotality data.

^{Source: Cotality}

Canberra's annual rent growth of +3.2 per cent sits at the lower end of the capital city range, running well below the combined capitals average of +6.0 per cent. The gap is most visible in units, where rents have climbed just +1.7 per cent over the year. The yield of 4.2 per cent is a different story: it matches the combined regionals average and sits comfortably above Sydney and Brisbane, reflecting a market where property values are relatively contained compared to rents.

Canberra vacancy rates

Vacancy rates measure the share of rental properties sitting empty at any point in time. A low rate signals strong rental demand and limited choice for tenants. SQM data shows that Canberra's vacancy rate has risen from 1.5 per cent a year ago to 1.7 per cent in June 2026, an increase of 143 additional vacant properties.

^{Source: SQM Research}

At 1.7 per cent, Canberra's vacancy rate is the highest of any capital city tracked and sits above the national rate of 1.3 per cent. The year-on-year rise of +0.2 percentage points means renters have slightly more choice than they did twelve months ago, though 1,063 vacant properties in the territory remains a modest pool. By comparison, most other capitals are holding at or below 1.0 per cent, so Canberra's relative looseness is a clear feature of the local market.

Louis Christopher, Managing Director at SQM Research said in the latest rental market report:

"While the national vacancy rate has edged up to 1.3%, Australia's rental market remains exceptionally tight by historical standards. Most capital cities continue to record vacancy rates below one per cent or only marginally above, highlighting that rental supply remains insufficient to meet demand."

Mr Christopher's observation about the national picture is worth reading alongside Canberra's own numbers. While the capital is an exception to the sub-1.0 per cent pattern he describes, a 1.7 per cent vacancy rate is still historically low by the territory's own long-run standards, and the moderate rent growth suggests demand is holding even as a little more stock has come available. For investors, the combination of a yield at 4.2 per cent and a vacancy rate that remains relatively contained points to a rental market that is easing at the edges without showing any sign of a structural shift in tenant demand.

Highest growth areas in Canberra

Canberra's eight Statistical Area Level 3 regions, ABS-defined groupings that each cover several adjacent suburbs, recorded a wide spread of annual growth results in June 2026, from a leading gain of +7.5 per cent down to a small decline. The table below ranks all eight regions by their 12-month percentage change.

^{Source: Cotality}

• Weston Creek: Ranked #1 across Canberra with annual growth of +7.5 per cent and a median value of $1,022,434, Weston Creek posted the strongest result of any ACT region in June 2026. Its position as an established, well-connected district in Canberra's south-west, offering relatively accessible entry points compared with inner areas, appears to be supporting continued buyer interest.
• Tuggeranong: Ranked #2 with annual growth of +5.0 per cent and a median value of $888,304, Tuggeranong remains one of the more affordable districts in the ACT while still sitting inside the national capital's tight boundary. Suburbs such as Kambah and Gowrie have drawn steady buyer attention from those seeking house-and-land at a lower price point than Canberra's inner districts.
• Belconnen: Ranked #3 with annual growth of +3.4 per cent and a median value of $857,579, Belconnen is Canberra's largest district by population and covers a broad range of housing types and price points. Suburbs including Dunlop in the district's outer north have attracted buyers seeking newer housing stock at more accessible medians.
• South Canberra and Gungahlin: South Canberra (ranked #4, +2.9 per cent, $827,995) and Gungahlin (ranked #5, +2.1 per cent, $911,862) both posted annual gains, though at a more measured pace than the city's top performers. Gungahlin continues to grow as a planned district, with suburbs such as Amaroo and Harrison drawing young families, while South Canberra's proximity to key government precincts supports demand among professional buyers.
• Woden Valley, North Canberra and Molonglo: The remaining three regions recorded the softest results over the year. Woden Valley (ranked #6) edged up +1.0 per cent to a median of $1,001,391, while North Canberra (ranked #7) added +0.3 per cent to reach $716,815, with suburbs such as O Connor among its lower-priced pockets. Molonglo (ranked #8) eased -0.6 per cent to a median of $731,152, the only ACT region to record a small annual decline.

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