Canberra property market data, trends, forecasts

Canberra property market news - key takeaways

• Canberra property market easing: The Canberra property market recorded a -1.0 per cent fall in dwelling values in July 2026, extending a quarterly decline of -2.1 per cent, with values now -4.2 per cent below their May 2022 peak.
• Stock building, buyers gaining choice: Total listings in Canberra rose +18.6 per cent year on year, with stock accumulating as properties take longer to sell than the capital city average.
• Auction conditions favour buyers: Canberra's auction clearance rate of 60.0 per cent for the week ending 16 August 2026 sits below the 65–70 per cent range typically associated with balanced conditions, pointing to a market where buyers carry more negotiating weight.
• Rental growth the softest of any capital: Canberra rents rose +3.3 per cent over the year, well below the national rate of +5.9 per cent, with a vacancy rate of 1.7 per cent providing tenants slightly more choice than in most other cities.
• Rate relief still years away: With the RBA holding the cash rate at 4.35 per cent and no major bank forecasting the first cut before mid-2027, borrowing costs will remain a constraint on buyer capacity throughout the near term.

Canberra property price movements

The Canberra property market has continued to ease, with values falling across houses and units over the month and quarter. Both segments remain up on an annual basis, though that gap is narrowing as the shorter-term trend pulls in the opposite direction.

Canberra property prices - July 2026

Canberra home values fell -1.0 per cent in July 2026, extending a quarterly decline of -2.1 per cent. Annual growth held at +1.0 per cent, meaning values are still above where they were a year ago, though the gap has compressed considerably.

^{Source: Cotality}

The median value of Canberra homes fell by around $8,952 over the month, based on a current median of $883,138. Values remain -4.2 per cent below their May 2022 peak, meaning the quarterly softening is continuing to extend that gap rather than close it.

House prices in Canberra

Canberra house prices fell -1.2 per cent in July 2026, the steeper of the two property types, with the quarterly result of -2.2 per cent reflecting a sustained period of downward pressure. Annual growth of +1.5 per cent shows houses have retained more of their longer-run gains than units, but the direction over recent months is clear.

^{Source: Cotality}

The median house value dropped by around $12,450 over the month, settling at $1,025,827. That puts the typical Canberra house more than $431,000 above the median unit, a gap that underlines how differently the two segments are priced in this market.

Unit prices in Canberra

Canberra unit prices eased -0.5 per cent in July 2026, a softer monthly decline than houses but part of a broader quarterly slide of -1.4 per cent. The annual figure of -0.5 per cent means units have now given back their gains from a year ago.

^{Source: Cotality}

The median unit value slipped by around $2,982 over the month, landing at $594,894. With the annual rate negative, units are the weaker of the two segments both in the short term and over the past twelve months.

Canberra property market forecasts 2026

Australia's Big Four banks publish annual house price forecasts as part of their economic research. Views on Canberra's property market for 2026 differ notably across the four, with all three that publish city-level forecasts expecting values to fall over the calendar year.

• CBA predicts Canberra property prices to fall -2.0 per cent over 2026.
• Westpac does not publish a separate dwelling price forecast for Canberra.
• NAB's published forecast is at the Australian Capital Territory and New South Wales state level; it predicts dwelling prices to fall -4.0 per cent over the next 12 months across that combined region.
• ANZ predicts Canberra property prices to fall -5.4 per cent over 2026.

For Canberra house price forecast watchers, the spread across the three city-level forecasts is considerable. CBA sits at the more modest end, projecting a -2.0 per cent fall, while ANZ anchors the other end at -5.4 per cent. NAB's ACT-level figure of -4.0 per cent falls between the two city-level predictions, though it covers a broader geography and is not a direct Canberra house price trend measure.

RBA cash rate forecast 2026-2027

The RBA held the cash rate at 4.35 per cent at its most recent meeting, consistent with market expectations after a softer-than-anticipated June inflation reading. All four major banks expect the next move to be a cut, though their timing and depth forecasts differ, with NAB projecting a lower terminal rate than its peers.

• ANZ expects the next cash-rate move to be a 25 basis point cut, forecasting a further cut in December 2027 to bring the cash rate to 3.85 per cent.
• CBA expects the next cash-rate move to be a 25 basis point cut in May 2027, forecasting another cut in September 2027 to bring the cash rate to 3.85 per cent.
• NAB expects the next cash-rate move to be a 25 basis point cut in June 2027, forecasting two more cuts in September and December 2027 to bring the cash rate to 3.60 per cent.
• Westpac expects the next cash-rate move to be a 25 basis point cut in August 2027, forecasting another cut in December 2027 to bring the cash rate to 3.85 per cent.

What this means for the Canberra market

The cash rate held at 4.35 per cent means borrowing costs remain elevated for Canberra buyers and owners. Variable mortgage rates have risen materially over this rate cycle, reducing how much buyers can borrow and compressing the pool of active purchasers at any given price point.

With no bank expecting the first cut before mid-to-late 2027, meaningful relief on repayments is still some way off. That gap matters most in Canberra's house segment, where the median sits above $1,000,000 and monthly repayments at current rates represent a significant share of household income. Units, with their lower entry price, are somewhat less exposed to borrowing-capacity constraints, though they have not been separate from the broader price softening.

CBA and ANZ published their forecasts in the first half of 2026, before the RBA's most recent hold decision. Both banks' price projections predate that August confirmation, so views on the pace and depth of any Canberra correction may be revised as the rate outlook firms.

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Canberra house prices graphs and charts

Canberra's house price growth over the last 5 years has been uneven, and the most recent figures show values continuing to ease: according to Cotality's latest figures, the dwelling median stood at $883,138 in July 2026, with values falling -1.0 per cent over the month, -2.1 per cent over the quarter, and posting a slim +1.0 per cent gain over the year.

The five-year arc for Canberra reflects the same forces that have shaped the broader capital city picture: a sharp rate-driven boom through 2021 and into early 2022, followed by a pullback as the RBA lifted the cash rate to 4.35 per cent and borrowing capacity for typical households fell materially. More recently, a rise in total listings and homes spending longer on the market has kept downward pressure on values, with the cash rate holding at its current level and the major banks not anticipating cuts until mid-to-late 2027.

Canberra selling statistics

The Canberra property market is carrying a set of selling conditions that pull in different directions. Sales volumes are up on a year ago, but homes are sitting longer before they sell, and the total pool of available stock has grown substantially, giving buyers more room to move than they had twelve months back.

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Canberra sales volume and days on market

Canberra sales volumes rose +10.1 per cent year on year, a result that stands out against a combined capitals average of -3.5 per cent and a national figure of -0.8 per cent. At the same time, the median days on market sits at 49 days, down from 57 days a year ago but well above the combined capitals median of 33 days and the national median of 35 days.

^{Source: Cotality}

Canberra's sales volume growth is a genuine positive, but the city's time-on-market figure tells a more cautious story. Properties here take roughly a fortnight longer to sell than the capital city average, meaning sellers need to price carefully and plan for a longer campaign than the headline volume number alone might suggest.

Canberra new and total listings

New listings in Canberra climbed +7.2 per cent year on year, adding more properties to an already-growing pool. Total listings are up a sharper +18.6 per cent on the same period last year, a gap that points to stock accumulating on the market rather than being absorbed quickly.

^{Source: Cotality}

When new listings grow at a moderate pace but total stock grows far faster, the implication is that existing properties are taking longer to find a buyer. For buyers, the +18.6 per cent lift in total listings means meaningfully more choice. For sellers, it means more competition at every price point.

Canberra vendor discount and auction clearance rates

Vendor discount measures the percentage gap between a property's initial asking price and its final sale price. A wider gap means sellers are accepting offers further from their opening position; a narrower gap means final prices are landing closer to what was asked. Auction clearance rates measure the share of properties that sell at auction on the day, and together the two figures give a clear read on where negotiating conditions sit.

Canberra vendor discount over time

^{Source: Cotality}

Canberra's vendor discount has held at -3.5 per cent, unchanged from a year ago. That stability is notable given the broader national trend toward wider discounts, though at 3.5 per cent sellers are still conceding a meaningful margin from their initial price to secure a sale.

Canberra auction clearance rates

^{Source: Cotality}

For the week ending 16 August 2026, Canberra recorded a clearance rate of 60.0 per cent from 35 reported results. By long-run benchmarks, a genuine balance between buyers and sellers typically requires a rate closer to 65 to 70 per cent. A result of 60.0 per cent indicates conditions are leaning toward buyers, with a reasonable share of properties passing in without a sale.

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Canberra property investing

Canberra's rental market offers investors a relatively stable income stream at a time when the city's property values are easing. For renters, conditions remain tight by historical standards, though the pace of rent growth here is noticeably slower than in most other capitals.

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Canberra rental market

The table below covers rental growth, gross yield, and the annual change in rents for both houses and units across every capital city and combined national groupings. Canberra's figures sit alongside the national picture for easy comparison.

^{Source: Cotality}

Canberra recorded annual rent growth of +3.3 per cent, the lowest of any capital city and well below the national rate of +5.9 per cent. The city's gross yield of 4.2 per cent is among the stronger readings for the capitals, sitting above Melbourne, Sydney, Brisbane and Adelaide, which tells you that values here have not run as far ahead of achievable rents as in some other cities. Houses drove most of the rental movement at +4.0 per cent annually, while units added a more modest +1.5 per cent.

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 SA3 regions tell a divided story in July 2026, with the city's outer and southern corridors holding gains while several inner areas have pulled back over the year. The table below ranks all eight Statistical Area Level 3 (SA3) regions across the ACT, ABS classifications that each typically cover a cluster of adjacent suburbs, by their annual percentage change.

^{Source: Cotality}

• Weston Creek: Ranked #1 with annual growth of +5.4 per cent and a median value of $1,000,643, Weston Creek is the clear standout across Canberra's SA3 regions in July 2026. Its position on the city's western fringe, with good access to both employment centres and open space, has continued to support buyer interest at a time when many parts of the capital have eased.
• Tuggeranong: Ranked #2 with annual growth of +3.1 per cent and a median value of $881,039, Tuggeranong remains one of Canberra's more affordable district options, which appears to be sustaining demand as buyers seek relative value across the capital. Suburbs such as Kambah and Gowrie sit within this region and have attracted steady buyer activity.
• Gungahlin: Ranked #3 with annual growth of +1.2 per cent and a median value of $909,363, Gungahlin has posted modest but positive gains, supported by continued population growth in Canberra's northern corridor and the relatively newer housing stock in suburbs such as Amaroo and Harrison.
• Belconnen and the flat middle: Ranks #4 and #5, Belconnen (+1.0 per cent, $857,491) and South Canberra (-0.4 per cent, $899,808), sit either side of flat annual growth, with Belconnen's relative affordability drawing some buyer interest through suburbs such as Dunlop, while South Canberra's higher-priced pockets have seen values ease slightly over the year.
• Inner and established areas softer: Ranks #6 through #8, Woden Valley (-0.4 per cent, $939,594), Molonglo (-0.5 per cent, $741,953) and North Canberra (-1.3 per cent, $751,334), recorded the weakest results across the ACT. North Canberra's decline of -1.3 per cent over the year is the largest in the city, with suburbs such as O Connor among those within this region where values have slipped from their 2022 peak levels.

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