Question 1

Is Phillip a nice place to live?

Accepted Answer

Phillip sits in inner-south Canberra around the Woden Town Centre, with office buildings, retail outlets, cafes and a major bus interchange. It has a predominantly urban character, with light industrial areas and pockets of medium-density apartments and low-rise units near the centre. The suburb suits people who want town-centre amenities and public transport while staying close to parkland and walking trails. The community numbers 5,197 and has a median age of 32.

Families are dominated by couples, who make up just over eight in ten families. Homes are slightly more often rented than owner-occupied, with 50.3% rented and 49.7% owner-occupied. Phillip is a working hub within Woden and part of a town-centre renewal, with a CIT campus under construction, a public transport interchange being built and other transport and land-release projects progressing. Whether Phillip suits you depends on whether you want a town-centre lifestyle with those amenities nearby.

Question 2

Is it expensive to live in Phillip?

Accepted Answer

Renting in Phillip (ACT 2606) would take a noticeable share of local incomes as recorded at the most recent Census. A house rent of $635 a week is about 30.6% of a typical local household's weekly income at the last Census, which is a sizeable share, while a unit rent of $570 a week is about 27.5% of that weekly income, a moderate share. If you are renting rather than buying, those rent shares are the most relevant numbers.

Buying is higher against local incomes. The median house price of $664,000 is about 6.2 times a typical local annual household income at the last Census, which sits well above local incomes, while the median unit price of $455,000 is about 4.2 times annual household income, somewhat above local incomes. Whether those figures feel expensive will depend 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 Phillip a good place to invest?

Accepted Answer

Over the past 12 months Phillip presented a mixed picture for investors. Median house values fell 4.0% while house rents rose 4.1%. Unit values edged up 1.0% and unit rents increased 5.6%, with unit rents growing faster than unit values and faster than house rents.

Viewed as investment metrics, the value figures speak to capital growth and the rent figures to rental income. If rental income is your priority, the rent increases — especially the 5.6% rise for units — are the clearest movement. If capital growth is your aim, house prices declined while unit prices showed only a slight rise. Whether that balance makes Phillip the right choice for you 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	$664K	$455K
Change in value Past 12 months	-4.0%	1.0%
Sold Past 3 months	14	67
Median days on market Past 12 months	52	63
Average rent Past 12 months	$635	$570
Change in rent Past 12 months	4.1%	5.6%

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