Canberra market insights

With AAA moving into Canberra this is what we have discovered, demonstrating that each State’s apartment sector is often unique.

Canberra's apartment market has experienced a very different cycle to the detached housing market over the past decade. While house prices surged during the COVID-19 period and subsequently softened, apartment values have generally been supported by affordability and strong demand from first-home buyers, public servants, students and investors. The ACT median unit price increased from around the mid-$400,000s during the mid-2010s to approximately $580,000-$600,000 by 2024-25, although growth has been more moderate than in some other capital cities due to a steady pipeline of new apartment developments in areas such as Belconnen, Gungahlin, Woden and the City.

CoreLogic data reported in late 2024 showed Canberra's median unit value at about $584,000, while more recent market reports place the median unit price around $595,000. [abc.net.au], [jonnywarren.com.au]

A defining feature of the ACT apartment market is the predominance of 1 and 2-bedroom stock. One-bedroom apartments are popular with investors and young professionals, while 2-bedroom, 2-bathroom configurations represent the largest and most liquid segment of the market. Three-bedroom apartments remain a relatively small proportion of supply and command a premium, particularly in established inner-city locations such as Braddon, Kingston, Barton and the Inner South. Recent buyer demand has increasingly favoured larger apartments with dedicated work-from-home space, reflecting post-pandemic lifestyle changes. [jonnywarren.com.au], [allhomes.com.au]

Sales activity remains relatively strong by national standards. Canberra records approximately 8,000-10,000 dwelling sales annually, with unit and apartment transactions typically accounting for a substantial share of this volume. NAB's Canberra market update reported approximately 9,291 annual dwelling sales in 2026, while Allhomes transaction data shows unit transfers consistently numbering in the several-thousand range each year. Apartment turnover tends to increase when interest rates ease and affordability pressures push buyers away from detached housing. [nab.com.au], [allhomes.com.au]

Looking forward, the outlook for Canberra apartments remains broadly positive. Population growth, stable public-sector employment and the significant price gap between houses (around $975,000-$1.05 million) and units (around $590,000) continue to support demand. However, ongoing apartment construction means price growth is likely to remain moderate rather than explosive, with well-located, high-quality 2-bedroom apartments expected to outperform the broader market. [jonnywarren.com.au], [nab.com.au], [abc.net.au]

AAA is hosting its first event in Canberra on Tuesday 4 August where the association will highlight trends with future apartment buyers. To register, click here.