Question 1

Is Chifley a nice place to live?

Accepted Answer

Chifley is a quiet, established suburb in Canberra’s Woden Valley with leafy streets and a predominantly residential character. Housing is lowrise and mixed, from original mid twentieth century brick homes to renovated properties and some newer townhouses. The community is about 2,680 people with a median age of 37, and most dwellings are owner-occupied (67.2%), with couple families the dominant household type.

Everyday life centres on local parks, playgrounds and walking paths, a small neighbourhood shopping strip and straightforward connections by regular bus services and main roads to the larger retail and services at Woden town centre. The Chifley Health and Wellbeing Hub now hosts a community allied-health and gym service, and recent works have upgraded paths, kerb ramps and pedestrian links as part of the Age Friendly Suburbs Program. For people after a relaxed suburban pace with convenient access to city amenities, Chifley tends to suit families and downsizers; whether it suits you depends on what you’re looking for.

Question 2

Is it expensive to live in Chifley?

Accepted Answer

At about 9.2 times a typical local annual household income at the last Census, a median house price of $1,120,000 in Chifley sits well above what people locally earned at that time. Rents look noticeably smaller in comparison: $693 a week for a house would take about 29.5% of a typical local household's weekly income at the last Census, and $485 a week for a unit would take about 20.7%.

On these figures, buying a house is much more stretched against local incomes than renting, and which matter most will depend on whether you plan to buy or rent and on your own circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Chifley a good place to invest?

Accepted Answer

Over the past 12 months in Chifley, median house values fell 4.3% while median unit values dipped 1.2%. On the rental side, house rents edged down 0.9% and unit rents fell 3.0%.

Put together, both capital values and rental income declined over the year, with the fall in house values larger than for units, and unit rents weakening more than house rents. If capital growth is your focus, the house value movement is the most relevant figure; if rental income matters more, look at the rent changes. Whether that pattern makes Chifley a suitable investment depends on your goals and circumstances.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$1.12M	N/A
Change in value Past 12 months	-4.3%	-1.2%
Sold Past 3 months	17	6
Median days on market Past 12 months	48	74
Average rent Past 12 months	$693	$485
Change in rent Past 12 months	-0.9%	-3.0%

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