As one of the fastest growing regions in Australia, Gungahlin is proving a haven for first homebuyers and young families – and interest in property is showing no sign of waning.
MARQ Partner and Licensed Agent Justin Taylor said the Gungahlin region had gone from strength-to-strength in the past 20 years and remained a popular choice for buyers.
“In my time selling real estate, I’ve seen Gungahlin go from 30,000 people to close to 90,000. It’s a popular area to live, it has great amenity, good people and decent value for money compared to closer to the CBD,” Justin said.
Australian Bureau of Statistics data shows the population of the Gungahlin has exploded, swelling from 389 in 1991 to 71,000 in 2016 and more than 87,000 people in the 2021 Census.
And with that has come significant expansion of new homes and apartments.
“Since 2003, it’s gone from eight suburbs to almost 20 suburbs. The amenity has improved and the new home developments make it an attractive proposition, especially for first homebuyers and young families,” Justin said.
“Gungahlin represents newer homes at better value. People like new homes, and the region is pretty affordable compared to closer to the CBD because traditionally, as you get closer to the CBD properties get more expensive.
“When you factor in the current expensive rental market, the Gungahlin region presents a more affordable entry point into the market with the number of apartment options.”
Located 10km north of the Canberra city centre, the region encompasses the suburbs of Gungahlin, Amaroo, Forde, Hall, Moncrieff, Taylor, Bonner, Franklin, Harrison, Ngunnawal, Throsby, Casey, Nicholls, Jacka, Crace, Mitchell, Kenny and Palmerston.
CoreLogic data shows the median dwelling value in the Gungahlin region is $868,272. Prices have slipped by 9.7% across the region in the past year, slightly more than the Canberra city average, which has seen a drop of 8.8% in the 12-month period.
Canberra’s median dwelling value is now $830,217.
Justin said while Palmerston had been a stalwart of the region, a plethora of new suburbs had emerged in the past 20 years, including Gungahlin, Harrison, Forde, Franklin, Casey, Crace, Jacka, Moncrieff, Taylor and Throsby.
And the continued growth in housing is being driven by increased investment in infrastructure and amenities.
The light rail provides direct access to the city, and there is also a growing number of schools, childcare centres, playgrounds and retail options, including Marketplace Gungahlin, as well as lots of restaurants and cafes.
Outdoorsy types also love the many recreation options, such as the Gungahlin Lakes Golf Club, the Gold Creek Country Club, Gungahlin Leisure Centre and nature reserves like Mulligans Flat Nature Reserve.
Justin said despite a downswing in Canberra property over the past year, there was still a cohort of buyers that were actively seeking homes in Gungahlin.
“When the homes are priced correctly, they’re moving – there’s plenty of buyers,” he said.
“The growth of the town centre and the marketplace, the addition of the light rail, the new clubs being built out there, is calling new residents. Gungahlin is still a growing area and there’s plenty of demand – and it’s only going to get bigger.”