District of Gunghalin, Canberra, ACT
Canberra differs from other Australian cities for one simple reason – proactive designing which began 100 years ago. This level of planning for population growth means infrastructure is budgeted for and accommodated in advance - and the District of Gungahlin is about to reap the rewards.
Settlement of the area began in the 1990s with population growth gaining momentum from 2006, when the district was home to around 31,000, to 2011, when the population reached 47,000. That number is now 71,000.
Population growth will continue, with five suburbs still to be released - and construction of an $800 million light rail system connecting to the Canberra CBD is under way. This, combined with upgrades to several key roads, will provide faster access to the city and work nodes.
Strong capital growth has been experienced in the Gungahlin house market in the last 12 months with five suburbs delivering double-digit growth in median house prices and four others achieving 6% to 9%.
Low vacancies and good rental yields add to the area’s appeal for investors, at a time when the Canberra market overall is showing signs of strong growth.
This report covers the suburbs of Amaroo, Bonner, Casey, Crace, Forde, Franklin, Gungahlin, Harrison, Ngunnawal, Nicholls and Palmerston.