Top 10 ACT suburbs October 2015
The most recent quarter saw significant growth in the ACT’s Molonglo Valley district, with the suburb of Wright bringing 31.1 per cent quarterly median house price growth, according to figures from CoreLogic RP Data.
Wright is currently under development, with the construction of the suburb’s first house completed just three years ago. Developer Renato Cervo has submitted a development application for the Molonglo district’s first shopping centre and retail space, with completion expected next year. A new school in neighbouring suburb Coombs is also due to open its doors by the start of the 2016 school year.
Ten kilometres from Canberra city, the Molonglo district is also home to suburb Weston, which took the number one spot for units in ACT’s top 10, with a quarterly growth of 34.8 per cent. Weston is an established suburb with a number of existing schools and churches, and residents will soon benefit from the district’s anticipated retail developments.
ACT’s Belconnen district is home to four of the top 10 suburbs for quarterly growth, according to CoreLogic RP Data.
Suburb Scullin grew 22.1 per cent for units, while Aranda and Giralang saw 11.9 and 9.7 per cent growth respectively for houses.
Houses in Bruce grew a notable 18.4 per cent in the quarter. The district boasts many amenities, including primary schools in both Giralang and Aranda, and Southern Cross Early Childhood School in Scullin. The Canberra Institute of Technology and the University of Canberra both have campuses in Bruce. The sports and aquatics centre and numerous playing fields also attract families to the area. The district just skims the CBD’s 10-kilometre radius, likely one of the main growth drivers, along with a Westfield shopping centre situated between the two highest-performing suburbs in the district, Scullin and Bruce.
Three of ACT’s top 10 suburbs are located in the North Canberra district, mere kilometres from the Canberra CBD. The three suburbs, Dickson (units), Ainslie (houses) and O’Connor (units), achieved 16.2, 11.1, and 10.1 per cent growth respectively.
Home to the Dickson Centre, Dickson offers a number of lifestyle amenities, including several pubs and bars, a vast array of restaurants, and many other retail and community facilities that would undoubtedly drive consistent growth. Ainslie offers the nature trails of Mount Ainslie, while remaining in walking distance of Canberra city. The district attracts families with young children, with numerous playgrounds and parks across all three of the top performing suburbs, as well as schools and childcare centres.
Topping off the high achievers for ACT is Woden district’s suburb Isaacs. Situated 14 kilometres from the CBD, the suburb’s median unit price grew 17.9 per cent in most recent quarter. Isaacs’ limited amenities include a local supermarket and playground, along with a childcare centre and a select few restaurants.
Top 5 ACT quarterly growth suburbs (houses)
Wright ($757,500): 31.1%
Bruce ($957,500): 18.4%
Aranda ($772,000): 11.9%
Ainslie ($800,000): 11.1%
Giralang ($565,000): 9.7%
Source: CoreLogic RP Data, based on median price growth
Top 5 ACT quarterly growth suburbs (units)
Weston ($550,000): 34.8%
Scullin ($365,000): 22.1%
Isaacs ($615,000): 17.9%
Dickson ($427,000): 16.2%
O’Connor ($559,000): 10.1%
Source: CoreLogic RP Data, based on median price growth