Question 1

Is Wright a nice place to live?

Accepted Answer

Wright is a relatively new residential suburb in Canberra's Gungahlin district, with modern streetscapes, contemporary detached homes and a sprinkling of townhouses. Small parks, playgrounds and walking and cycling paths are woven through the neighbourhood, giving it a local, suburban rhythm that suits everyday family life and outdoor activity close to home.

It attracts mainly young families and professionals, with a population of 3,808 and a median age of 32, and a median household income of $2,559 a week. Families make up the bulk of households and most homes are owner-occupied (68.4%) while 31.6% are rented. Day-to-day convenience is supported by a short trip to the Gungahlin town centre for shops, cafes and public transport and straightforward links onto Canberra's main arterial roads. There are no significant new public infrastructure or civic-amenity projects reported at this time, and the suburb sits within the Molonglo Valley land release area.

Question 2

Is it expensive to live in Wright?

Accepted Answer

Housing costs in Wright sit differently depending on whether you rent or buy. A typical local household's weekly income at the last Census was $2,559. On that basis, the average house rent of $750 a week would take about 29.3% of a typical local household's weekly income, while the average unit rent of $560 a week would take about 21.9%. Looking at buying, the median house price of $815,000 is roughly 6.1 times a typical local annual household income at the last Census, whereas the median unit price of $499,900 is about 3.8 times that annual income. Whether those ratios feel expensive depends on your own income and 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 Wright a good place to invest?

Accepted Answer

The past year has been mixed in Wright. House values fell sharply, down 22.6% over the 12 months. By contrast, house rents rose a solid 7.1% and unit rents edged up 1.8%.

If your priority is capital growth, the 22.6% fall in house values is the relevant movement, while if rental income matters more, the increases in rents, especially the 7.1% rise for houses, are the figures to consider. Whether that balance makes Wright the right investment 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	$815K	$500K
Change in value Past 12 months	-22.6%	-0.0%
Sold Past 3 months	14	17
Median days on market Past 12 months	61	57
Average rent Past 12 months	$750	$560
Change in rent Past 12 months	7.1%	1.8%

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