Canberra property market data, trends, forecasts

By Andy Webb · Data to September 2026 · Updated October 2026

Canberra property market news - key takeaways

• Values extend their decline: Canberra dwelling values fell -1.1 per cent in September 2026, with houses and units both recording falls as values continued to ease over recent months.
• Stock builds for buyers: Total listings in the Canberra property market are +10.7 per cent higher than a year ago, even as fewer new homes come to market, giving buyers more choice and time.
• Auction results soft: Canberra recorded a clearance rate of 34.5 per cent in the week ending 4 October, a result that points to limited competition on auction day and conditions favouring buyers.
• Rental conditions ease: Canberra rents rose +3.1 per cent over the year, the lowest annual growth of all the capitals, as more homes available to lease give renters extra options.
• Rates limit borrowing power: With the RBA cash rate at 4.60 per cent and two major banks expecting one more rise in November 2026, borrowing limits remain a key constraint for Canberra buyers.

Canberra property price movements

Values in the Canberra property market continued to ease through September 2026, with houses and units both recording declines. Conditions currently favour buyers, and the figures below show why.

Canberra property prices - September 2026

Canberra home values fell -1.1 per cent in September 2026, bringing the typical home to $861,744. The quarterly result stands out most, with values down -3.2 per cent over the quarter.

^{Source: Cotality, data to September 2026}

In dollar terms, the median value of Canberra homes fell by around $9,600 over the month. Values now sit -6.2 per cent below their May 2022 peak and are -1.6 per cent lower than a year ago. A quarterly fall twice the size of the annual one suggests most of the easing has come in recent months.

Tim Lawless, Research Director at Cotality, said in the September 2026 Home Value Index:

"97% of capital city suburbs were down in value over the three months to end of September, highlighting the broad-based scope of this negative housing cycle."

Canberra's -3.2 per cent quarterly fall sits within the broad national pattern Mr Lawless describes, with houses and units both easing.

House prices in Canberra

Canberra house prices fell -1.1 per cent in September 2026, taking the median house value to $1,006,269. Over the quarter, house values were down -3.5 per cent, and they are -1.5 per cent lower over the year.

^{Source: Cotality, data to September 2026}

That monthly move equates to a fall of around $11,200 in the median house value. Houses recorded a larger quarterly decline than units, which fell -2.4 per cent over the same period. Even so, the median house value remains above $1,000,000.

Unit prices in Canberra

Canberra unit prices fell -1.3 per cent in September 2026, with the median unit value now $582,245. Quarterly and annual results were also negative, at -2.4 per cent and -2.1 per cent respectively.

^{Source: Cotality, data to September 2026}

The monthly fall works out to around $7,700 off the median unit value. Units held up better than houses over the quarter. Over the month and the year, little separated the two.

Canberra property market forecasts 2026-2027

Australia's Big Four banks, CBA, Westpac, NAB and ANZ, publish house price forecasts as part of their regular economic research. Their views for Canberra over 2026-2027 vary, mainly on how long the current fall in values will last.

NAB and Westpac do not publish a separate Canberra forecast.

The banks that forecast Canberra agree that values will fall across 2026, with ANZ the more cautious at -5.4 per cent. The view splits in 2027, when CBA expects a recovery of +3.0 per cent while ANZ expects values to keep falling. For anyone weighing up the Canberra house price forecast, the picture is broad agreement on a weaker 2026 and real uncertainty about when a turnaround might come.

Consultancy KPMG takes a milder view of 2026, forecasting -2.6 per cent for Canberra house values and +1.0 per cent for unit values.

RBA cash rate forecast 2026-2027

The RBA's most recent decision was its fourth cash rate rise of 2026, as inflation continued to run above the RBA's target range. The major banks are split evenly on what comes next, with ANZ and Westpac expecting one further rise in November, while CBA and NAB expect the rate to stay on hold. The table below sets out each bank's forecast.

The cash rate is 4.60 per cent. The major banks' forecasts for the next move:

^{Source: ANZ, CBA, NAB and Westpac forecasts, as at 8 October 2026}

What this means for the Canberra market

A higher cash rate flows through to mortgage rates, which reduces how much a lender will approve on the same income. For Canberra buyers, the recent fall in values is not making purchases easier as quickly as prices alone would suggest. If the further rise forecast by two of the banks goes ahead, borrowing limits would tighten again.

The rate outlook and the price forecasts point the same way in the near term, with conditions favouring buyers who already have finance approved. First-home buyers and others borrowing close to their limit are the most exposed to any further rise, while upgraders with equity have more room to move. KPMG's more positive unit forecast suggests the lower-priced end of the market could hold steadier if rate pressure eases.

Helpful resource: Our simple guide to tracking market trends and data will walk you through everything you need to know to be able to read the market and make a smarter selling decision.

Canberra house prices graphs and charts

Canberra's house price growth over the last 5 years has turned lower in recent months, with dwelling values falling -1.1 per cent in September, according to Cotality's latest figures. Values have dropped -3.2 per cent over the quarter and -1.6 per cent over the year, leaving the median dwelling value at $861,744.

Canberra values reached their high point in May 2022 and now sit -6.2 per cent below that level. Much of that fall reflects higher interest rates, which have reduced how much buyers can borrow, with the RBA cash rate now at 4.6 per cent after several increases this year. Cotality data shows homes are taking a median 50 days to sell and total listings are up +10.7 per cent on a year ago, which means more homes are waiting for buyers.

Canberra selling statistics

Selling conditions in Canberra have shifted toward buyers over the past year. Homes are taking longer to find a buyer, and the stock of homes for sale has built up even as fewer fresh listings arrive. Sellers are accepting a wider gap between asking and sale prices, and auction results point to cautious bidding.

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Canberra sales volume and days on market

Canberra sales volumes rose +8.0 per cent year on year, while the median home took 50 days to sell, up from 47 days a year earlier. Across the combined capitals, sales volumes fell -9.1 per cent and the median selling time was 39 days. Nationally, volumes were down -6.4 per cent, with homes selling in a median of 41 days.

^{Source: Cotality, data to September 2026}

Canberra is moving against the broader trend on activity, with more homes changing hands while sales slowed across the combined capitals and the nation. The catch is time. Homes here are taking 11 days longer to sell than the combined-capitals median, which suggests buyers are taking their time and sellers should plan for a longer campaign.

Canberra new and total listings

New listings fell -17.7 per cent year on year, so far fewer homes are coming to market for the first time. Total listings, which count every home currently advertised, rose +10.7 per cent over the same period.

^{Source: Cotality, data to September 2026}

When fresh stock is falling but total stock is rising, homes are staying listed for longer rather than selling quickly. For buyers, that means more choice and less pressure to commit on the spot. For sellers, it means more competition from homes already on the market, which fits with dwelling values falling -1.1 per cent over the month.

Canberra vendor discount and auction clearance rates

Vendor discount shows the typical percentage difference between a property's first advertised price and the price it eventually sells for. The auction clearance rate is the share of homes taken to auction that sell, whether under the hammer or shortly before or after. Read side by side, the two show how closely sellers' expectations match what buyers are paying across both private sales and auctions.

Canberra vendor discount over time

^{Source: Cotality, data to September 2026}

The median vendor discount in Canberra widened to -4.0 per cent, from -3.3 per cent a year earlier. A wider discount means sellers are accepting offers further below their initial asking price. That shift is consistent with the longer selling times and larger pool of stock on the market.

Canberra auction clearance rates

^{Source: Cotality, week ending 4 October 2026}

In the week ending 4 October, Canberra recorded a clearance rate of 34.5 per cent, with 10 of 29 auctions selling, 15 passing in and 4 withdrawn. A result below 50 per cent points to weak conditions that favour buyers, with limited competition on auction day. Because a single week covers only a small number of auctions, the figure is best read alongside the longer selling times and wider discounts above.

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Canberra property investing

Canberra's rental market has eased over the past year, with more homes available to lease and rents rising at a gentler pace than elsewhere. Renters have a little more choice and face less competition at open inspections. Investors are still seeing rental income grow, and softer home values have lifted the return that income represents on a property's price.

Helpful resource: Estimate the capital gains tax on a sale with our free calculator.

Canberra rental market

The table below compares rental conditions across the capitals, including gross rental yields and the annual change in rents for houses and units. A gross rental yield is the yearly rent a property earns as a percentage of its value, before costs such as rates, insurance and maintenance.

^{Source: Cotality, data to September 2026}

Canberra rents rose +3.1 per cent over the year, the lowest annual rent growth of all the capitals and well below the national figure of +5.5 per cent. House rents climbed +3.8 per cent, outpacing units at +1.5 per cent. Canberra's gross yield of 4.4 per cent is among the highest of the capitals and sits above the national yield of 3.9 per cent, which reflects rents that remain solid relative to home values that have eased over the past year.

Canberra vacancy rates

The vacancy rate measures the share of rental homes advertised as available, so a lower rate means more competition among tenants and more upward pressure on rents. Canberra's vacancy rate rose to 1.9 per cent from 1.6 per cent a year ago, with 1,169 properties available to rent compared with 970.

^{Source: SQM Research, September 2026}

Canberra's vacancy rate of 1.9 per cent sits above the national rate of 1.4 per cent and is among the highest of the capitals. The +0.3 percentage point rise over the year means renters have more options than they did a year ago. That fits with the slower pace of rent growth shown in the rental table.

Louis Christopher, Managing Director at SQM Research, said in SQM Research's latest weekly update:

"Our expectation for the lead-up to summer is that the national vacancy rate drifts up towards 1.4% to 1.5% by December on the usual seasonal rise in listings, with Sydney at or above 1.9%. Rents in Brisbane, Perth and Adelaide still have room to firm. Sydney, Melbourne and Canberra do not, and we expect Sydney house rents to be the first to record annual growth below 3%."

Mr Christopher's view is that Canberra rents have limited scope to rise further in the months ahead, placing the city alongside Sydney and Melbourne rather than the tighter markets. With more vacancies than a year ago and rent growth already the slowest of the capitals, the current figures are consistent with that outlook. For investors, it suggests rental income growth may stay modest for now, while the gross yield remains above the national figure.

Highest growth areas in Canberra

The table below ranks Canberra's Statistical Area Level 3 (SA3) regions by their annual change in median value, from the strongest result to the weakest. An SA3 is an ABS region that typically covers several neighbouring suburbs, which makes it a useful way to compare different parts of the city. In a softer year for the capital, only a small number of regions finished ahead of where they started.

^{Source: Cotality, data to September 2026}

• Weston Creek: Ranked #1 with annual growth of +1.3 per cent and a median value of $964,513, Weston Creek is one of only two Canberra regions to record a rise over the year. Its established streets and central position between Woden and the city's western fringe continue to attract buyers, with suburbs such as Weston and Holder sitting within the region.
• Tuggeranong: Ranked #2, Tuggeranong posted annual growth of +0.6 per cent with a median value of $867,271. Family homes priced close to the citywide median have helped keep values slightly ahead of a year ago, and suburbs such as Kambah and Gordon offer more space for the budget than many inner areas.
• Gungahlin: Ranked #3, Gungahlin's values fell -1.0 per cent over the year to a median of $888,562. The light rail link to the city centre keeps the region popular with commuters. A steady flow of newer housing in suburbs such as Throsby and Taylor also gives buyers plenty of choice.
• Belconnen and Molonglo: Ranked #4 and #5, Belconnen (-1.1 per cent, $837,042) and Molonglo (-1.6 per cent, $728,353) both recorded annual declines broadly in line with the wider Canberra market. Ongoing land release in newer suburbs such as Denman Prospect has added to the stock available to buyers in the city's west.
• South Canberra, Woden Valley and North Canberra: Ranked #6 through #8, South Canberra (-3.8 per cent, $802,469), Woden Valley (-3.8 per cent, $1,018,637) and North Canberra (-4.4 per cent, $698,134) recorded the largest annual declines in the city. Much of this inner ring carries a higher share of apartments, and with more homes on the market, buyers in suburbs such as Braddon and Kingston have more room to negotiate.

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