Canberra house values eased 0.2% in October 2026 to $1,087,270, while unit values fell 0.3% to $562,435 in the HtAG Analytics figures used for this update. Houses remain better supported than units, but borrowing costs and local competition mean buyers should check their budget before making an offer.
On 3 November 2026, the Reserve Bank announced a 0.25 percentage point cash rate rise to 4.85%, effective from 4 November. That makes checking your borrowing capacity an important part of getting ready to buy.
This update covers October house and unit prices, suburb differences, national comparisons and what higher rates mean for buyers. Local figures are from HtAG Analytics; national comparisons use Cotality.
Key takeaways
- Canberra houses: median value of $1,087,270, down 0.2% in October and 0.5% for the year to date
- Canberra units: median value of $562,435, down 0.3% in October and 3.7% for the year to date
- Suburb split: sub-$1 million house suburbs like Latham, Chisholm and Calwell are still up 4% to 6% over the year, while parts of the inner north and inner south have slipped
- Relative strength: Canberra's 0.7% October fall was the mildest of the six capitals that declined, against 2.0% in Brisbane and 1.6% in Sydney
- Rents are still rising: up about 3% over the year for both houses and units
- Rates: the RBA lifted the cash rate to 4.85%, the highest level since late 2008
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A note on the figures: HtAG reports houses and units separately here. Cotality uses its own Home Value Index, including a combined dwelling series. The -0.2% house result and -0.7% combined dwelling result are different measures, not interchangeable estimates. Annual changes cover 12 months; year-to-date changes cover 2026 to October.
What did the RBA announce on 3 November 2026?
On 3 November 2026, the Reserve Bank announced a 0.25 percentage point increase in the cash rate target to 4.85%, effective from 4 November. It is the fifth increase of 2026, following hikes in February, March, May and September, and it puts the cash rate 1.25 percentage points higher than where the year started.
The decision was not unanimous. Six board members voted to raise rates and three voted to hold at 4.60%, which tells you the board itself is divided on how much more pain the economy needs.
The RBA cited broad-based inflation, higher fuel costs and continuing capacity pressures. It does not expect inflation to reach the top of its 2 to 3% target band until late 2027.
The RBA also acknowledged falling housing prices and rising unemployment. Future decisions will depend on the data, rather than a promised rate path.
What it means for your repayments
Canstar's modelling estimates an extra $92 a month on a $600,000 owner-occupier loan if the November rise is passed on in full. The cumulative increase across five rises is about $456 a month. Its example assumes principal-and-interest repayments and 25 years remaining at the start of the hiking cycle.
Higher repayments can also reduce borrowing capacity. The effect depends on your income, expenses, debts and lender, so a broker should reassess your budget rather than relying on a general estimate.
For Canberra buyers, the practical takeaway is simple. If you got pre-approval before today, get your broker to reassess it. Your number has probably changed.
How the Canberra market performed in October 2026
| October 2026 | Houses | Units |
|---|---|---|
| Median value | $1,087,270 | $562,435 |
| Change in October | -0.2% (about -$1,900) | -0.3% (about -$1,500) |
| Change over 3 months | -0.9% | -1.4% |
| Median weekly rent | $695 | $578 |
| Gross rental yield | 3.3% | 5.3% |
| Median days on market | 31 days | 51 days |
Houses are still in short supply. At the current pace of sales, every house listed for sale would be snapped up in under two months. That is a tight market, and a big reason house prices have drifted rather than dropped.
Good houses are still selling quickly. A median of 31 days on market is fast for a market that is meant to be softening. The best homes are not sitting around.
Units are taking longer. At 51 days on market, unit sellers need more patience, and buyers have more room to negotiate.
Sellers are not discounting much yet. Homes are typically selling within about half a per cent of their asking price, and around 54% of auctions are clearing. That is a market finding its level, not one in distress.
October recorded around 362 house sales and 255 unit sales, compared with 607 and 468 a year earlier. Recent figures may rise as more transactions are recorded. Cotality separately estimates national sales over the past three months were 23% lower than a year earlier.
How Canberra has performed in 2026 so far
House values peaked at $1,104,823 in April and are now $1,087,270: 1.6% below that peak and 0.5% lower year to date. Over the full 12 months, houses are up 0.4%.
Units have gone backwards every single month this year. The median Canberra unit value has dropped from $583,976 to $562,435, a fall of about $21,500 or 3.7%. Over 12 months, units are down 4.0%.
Rents have kept climbing the whole time. House rents are up about 2.4% since January and unit rents about 2.0%, which is why yields keep improving even as prices soften.
The longer view
The longer-term numbers explain why Canberra feels flat. Houses are up 11.3% over five years and 63.7% over ten. Units are up just 1.0% over five years and 23.4% over ten.
For more context, read which Canberra suburbs have had the highest capital growth or explore the Canberra suburb growth map. The map is a September 2026 snapshot, not the October dataset used in this update.
Cotality's all-dwelling index tells a similar story, with Canberra values down 4.8% for the year to date and still 6.9% below their May 2022 peak.
Canberra suburb by suburb: where prices are holding and where they're slipping
By district
| District | Median dwelling value | 12-month change |
|---|---|---|
| Tuggeranong | $860,476 | -1.7% |
| Weston Creek | $942,097 | -2.5% |
| Belconnen | $832,795 | -3.0% |
| Gungahlin | $872,635 | -3.4% |
| Molonglo | $719,283 | -3.6% |
| South Canberra | $794,658 | -5.1% |
| Woden Valley | $988,952 | -5.7% |
| North Canberra | $639,952 | -6.0% |
Source: Cotality, houses and units combined, 12 months to October 2026. Districts with lots of apartments, like North Canberra, are pulled down by the weaker unit market.
Houses: suburbs still rising
| Suburb | District | Median house value | 12-month change |
|---|---|---|---|
| Latham | Belconnen | $912,168 | +5.6% |
| Denman Prospect | Molonglo | $1,229,784 | +5.6% |
| Chisholm | Tuggeranong | $929,490 | +4.6% |
| Higgins | Belconnen | $918,306 | +4.5% |
| Dunlop | Belconnen | $927,014 | +4.4% |
| Calwell | Tuggeranong | $954,113 | +4.0% |
| Franklin | Gungahlin | $1,080,206 | +3.9% |
| Kambah | Tuggeranong | $954,931 | +3.6% |
Houses: suburbs going backwards
| Suburb | District | Median house value | 12-month change |
|---|---|---|---|
| Crace | Gungahlin | $1,008,091 | -7.3% |
| Lyons | Woden Valley | $1,147,169 | -2.0% |
| Weston | Weston Creek | $999,925 | -1.5% |
| Ainslie | North Canberra | $1,492,410 | -0.8% |
| Yarralumla | South Canberra | $2,257,090 | -0.7% |
| Casey | Gungahlin | $948,162 | -0.7% |
Source: HTAG Analytics, 12 months to October 2026. Only suburbs with a solid number of sales are included.
What is driving the split
Most of these rising house suburbs sit around $900,000 to $960,000. As higher rates constrain budgets, buyers seeking family homes can compete more strongly at that price point.
With around 200 house sales a year, Kambah is an active mainstream house market. Values are up 3.6% over 12 months.
Dearer markets such as Ainslie and Yarralumla have a smaller pool of buyers able to finance a purchase. Check individual sales rather than assuming every property follows the median.
Crace stands out with a 7.3% annual fall, while many neighbouring suburbs are flat or rising. Investigate comparable sales before drawing conclusions about a particular home.
Units: where the pressure is
| Suburb | Median unit value | 12-month change | Gross yield |
|---|---|---|---|
| Campbell | $688,935 | -8.2% | 5.6% |
| Kingston | $785,736 | -6.4% | 4.8% |
| Lyneham | $455,652 | -6.3% | 7.2% |
| Turner | $523,134 | -5.0% | 6.7% |
| Phillip (Woden) | $466,404 | -4.0% | 7.2% |
| Gungahlin | $398,519 | -3.8% | 7.7% |
| City | $557,103 | -3.0% | 7.0% |
| Belconnen | $509,074 | -2.8% | 6.1% |
| Braddon | $542,238 | -1.3% | 6.8% |
| Dickson | $538,301 | -1.3% | 6.6% |
Source: HTAG Analytics, 12 months to October 2026.
Braddon and Dickson have held up better than Campbell and Kingston in these figures. Higher yields in Lyneham, Phillip and Gungahlin partly reflect falling prices, not just rising rents.
My take on the local market
If you are buying a family home under $1 million in Tuggeranong or west Belconnen, expect competition. These are the busiest parts of the market and well-presented homes are not being discounted much.
The better negotiating opportunities sit in two places. The first is the dearer established suburbs of the inner north and inner south, where buyer numbers are thinner. The second is apartments, particularly in areas with a lot of new stock nearby.
Compare selling times, discounts and stock in the Canberra buyer’s market map, or read where Canberra buyers have the upper hand. Those resources use data to 30 September 2026, so check recent comparable sales before deciding what to offer.
High gross yields do not account for strata levies, repairs, vacancies or finance costs. Building quality and nearby supply can matter more than the suburb average.
I saw this first-hand recently. I was buying a unit in Gungahlin for a client, and I'd found a place that ticked every box. My offer was in. Then, going through the strata report, I noticed something missing: the minutes from the most recent owners corporation meeting.
I asked for them. Those minutes recorded a report of structural issues in the building, with significant repair costs on the way. Costs that every owner, including my client, would have been paying for.
On my advice, my client walked away from the sale. On paper it was a well-priced unit with a solid yield. In reality, it came with a bill nobody had mentioned.
A good price should never rush you past due diligence. Read the strata records, ask for missing documents and investigate repair costs before committing.
If you are choosing your first home, the Canberra first-home buyer and family suburb guide can help you compare locations. Keep building condition, strata records and ongoing costs alongside price on your shortlist.
How Canberra is holding up against the rest of the country
Canberra is holding its value better than most capitals right now. Its 0.7% fall in October was the smallest of any capital city that went backwards.
| Market | October | 12 months | 5 years |
|---|---|---|---|
| Canberra | -0.7% | -3.7% | 0.0% |
| Sydney | -1.6% | -9.4% | -1.5% |
| Melbourne | -0.8% | -7.6% | -7.3% |
| Brisbane | -2.0% | +0.4% | +46.1% |
| All capitals combined | -1.4% | -4.8% | +11.7% |
Source: Cotality Home Value Index, November 2026 release, houses and units combined, to 31 October 2026.
Why Canberra is steadier
Canberra did not share the recent boom in Brisbane and Perth. Cotality reports Canberra dwelling values broadly unchanged over five years, while Brisbane rose 46.1%.
Tight house supply and a substantial public-sector employment base may support Canberra, but neither prevents further falls.
What that means if you're buying in Canberra
Lower prices and more choice can help buyers, but they do not prove the market has bottomed. Judge the property, comparable sales and your own affordability.
Interstate comparisons are useful context, not a substitute for local research and property-level checks.
Where the Canberra market is tracking
No one can call the bottom with certainty. The market has competing pressures, and forecasts should be treated as scenarios.
What is working against prices
- Higher rates. Today's hike cuts borrowing power again, and the major lenders and data providers expect conditions to stay subdued into 2027.
- Fewer active buyers. Cotality's research director described the national market as one where buyers have more leverage but are noticeably absent, held back by low confidence and borrowing limits.
- Lots of new apartments. Around 2,400 units were approved for construction in the ACT over the past year, a big pipeline for a market this size. It helps explain why unit values have fallen every month this year.
- Investor tax changes. The ATO says the legislated reforms apply from 1 July 2027, limiting negative gearing for residential property investments to new builds. Properties held at 7:30 pm AEST on 12 May 2026 are exempt from the negative gearing changes. Ask your accountant how the rules apply to your purchase.
What is supporting prices
- Tight house supply. There are fewer than two months' worth of houses for sale at the current pace of sales, and Canberra owners typically hold for more than nine years. Good houses don't come up often.
- Rents keep rising. House and unit rents are both up about 3% on a year ago, with only around 1.5% of rentals sitting vacant. That keeps yields lifting and supports investor interest in units.
- Canberra has lagged its own history. Over the past three years, Canberra prices have grown well below their long-run average. Markets that have fallen behind their own trend have more room to catch up when conditions turn, although the timing is never guaranteed.
- A steady employment base. Canberra's large public sector workforce tends to make the local economy steadier than most when conditions tighten.
The short version
My expectation is for Canberra houses to remain better supported than units, rather than for a uniform market recovery. Houses look well supported by low supply. Units face more pressure from new stock, but higher yields and falling prices are starting to make the numbers more interesting for investors. The biggest swing factor from here is the path of inflation and interest rates.
Read the Canberra property market 2027 outlook for longer-term planning. Forecasts are scenarios, not guarantees.
What this means for Canberra home buyers
Softer conditions give some buyers more time and negotiating room, especially in the unit market.
House selling times remain relatively short, so softer city-wide figures do not mean every seller will accept a large discount.
A few practical steps:
- Get your pre-approval reassessed after today's rate rise.
- Build a buffer into your budget for at least one more rise.
- Use the softer conditions to negotiate on price and terms, especially on units and homes that have been listed for a while.
- Focus on the property and the suburb, not the monthly headline. Suburb conditions across Canberra vary a lot.
What this means for Canberra investors
If you're investing interstate, the markets that led the last boom are now correcting fastest, which means more stock and more negotiating power. If you're looking locally, Canberra units now offer gross yields above 5% after a year of falling prices and rising rents.
Either way, the rate rise and tax reforms applying from 1 July 2027 mean your holding costs deserve a fresh look. The effect of the tax changes depends on the property and when it was acquired. Talk to your accountant and broker before you commit.
Is now the right time to use a buyers agent?
A softer market can still reward careful research and negotiation. A buyers agent can help assess comparable sales, identify risks and negotiate price and terms.
I help people buy their dream homes in Canberra. If you're planning to buy, complete my free Buyer Readiness Assessment to check where you stand and what you need to get ready before making an offer.
Complete my Buyer Readiness Assessment
Frequently asked questions
Are Canberra house prices falling?
Slightly. Canberra's median house value was down 0.2% in October and 0.5% for the year to date, at $1,087,270. Units have fallen further, down 3.7% so far this year.
How does Canberra compare to Sydney and Brisbane right now?
Canberra's 0.7% October fall on Cotality's index was smaller than Sydney's 1.6% and Brisbane's 2.0%, and the mildest of any capital city that declined.
What is the RBA cash rate now?
The RBA announced a cash rate target of 4.85% on 3 November 2026, effective from 4 November. That is a rise of 0.25 percentage points and the highest target since late 2008.
Will Canberra property prices keep falling?
Cotality expects downward pressure to continue into 2027. Tight house supply may support Canberra house prices, but neither the timing of a recovery nor the extent of further falls is certain.
Is it a good time to buy a unit in Canberra?
Unit buyers have the most negotiating power right now, with longer selling times and prices down for the year. The flip side is a high level of new unit supply, so choosing the right building and location matters.
Which Canberra suburbs are performing best?
For houses, sub-$1 million suburbs such as Latham, Chisholm, Higgins, Dunlop and Calwell are up between 4% and 6% over the past year. Tuggeranong is the strongest district overall, while North Canberra and Woden Valley have softened the most.
This article is general information only and is not financial advice. Market figures are provisional and may be revised.
Sources
- HtAG Analytics: ACT house and unit figures to 31 October 2026, supplied for this update. Suburb values, rents, yields, selling times and supply use the supplied HtAG snapshot.
- Cotality Home Value Index, November 2026 release: capital-city comparisons and national market commentary, with index results to 31 October 2026.
- Reserve Bank of Australia: monetary policy decision, 3 November 2026.
- Canstar: repayment modelling, 28 October 2026. Assumes full pass-through of the November rise, an owner-occupier principal-and-interest loan and 25 years remaining at the start of the hiking cycle.
- Australian Taxation Office: negative gearing and capital gains tax reforms.