Top 10 Suburbs to Invest in Across CANBERRA, ACT: Reviewed and Ranked in 2024

Identifying the best suburbs to invest in across Canberra is a challenging task, filled with complexities and potential risks. A poor choice could result in financial losses, lower rental income, and limited capital growth. To help you make an informed decision, I’ve conducted thorough research, pinpointing top areas like Griffith and Wright, which stand out with impressive scores. These carefully chosen suburbs offer strong returns and growth potential, making them excellent options for astute investors, like you.

Continue to read below to see the other top suburbs in Canberra.

10. Bruce – Total Score: 76/100

Bruce offers a mix of convenient amenities and rental yield but faces challenges with high median house prices.

Scoring Criteria:

• Market Growth: 8/10
• Rental Yield: 7/10
• Employment Opportunities: 8/10
• Population Growth: 7/10
• Quality of Schools: 8/10
• Community and Lifestyle: 7/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 8/10

Bruce is known for its convenience and range of amenities, making it a popular choice among young professionals. The suburb boasts a strong rental yield, driven by the presence of the University of Canberra and Calvary Hospital, which attract a steady stream of tenants. Employment opportunities are ample, with easy access to the city centre and nearby employment hubs. Population growth in Bruce is steady, supported by its desirable location and amenities. Public transport is reliable, with well-connected bus routes serving the area.

On the downside, Bruce’s high median house prices can be a deterrent for some investors. While the quality of schools is commendable, the competition for properties can be intense. Despite these challenges, Bruce’s vibrant community and convenient lifestyle make it a worthwhile investment in 2024.

Median prices for Bruce, ACT (2617), as of June 2024:

• Houses – $1,097,500
• Units – $541,000

House and unit data provided by, https://www.realestate.com.au/act/bruce-2617/

Bruce’s mix of convenience and amenities, combined with its rental yield, make it a strong investment choice, although high median house prices and competition may pose challenges.

9. Gungahlin – Total Score: 78/100

Gungahlin offers affordable housing and robust infrastructure but faces moderate population growth challenges.

Scoring Criteria:

• Market Growth: 8/10
• Rental Yield: 8/10
• Employment Opportunities: 7/10
• Population Growth: 7/10
• Quality of Schools: 8/10
• Community and Lifestyle: 8/10
• Median House Price: 7/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 8/10
• Rental Vacancy Rate: 8/10

Gungahlin is one of Canberra’s fastest-growing suburbs, offering a blend of affordable housing and modern infrastructure. The suburb has shown solid market growth, making it attractive for investors. Rental yields in Gungahlin are commendable, supported by a growing population of young families and professionals. The suburb boasts quality schools, contributing to its appeal for families. Public transport is well-established, with the light rail system providing efficient connectivity to the CBD.

However, Gungahlin’s population growth, while steady, is not as rapid as some other suburbs. Employment opportunities are ample but slightly lower compared to central suburbs. Despite these minor drawbacks, Gungahlin’s affordability and infrastructure make it a promising investment option.

Median prices for Gungahlin, ACT (2912), as of June 2024:

• Houses – $900,000
• Units – $460,000

House and unit data provided by, https://www.realestate.com.au/act/gungahlin-2912/

Gungahlin’s affordability and infrastructure are key positives, though moderate population growth and employment opportunities should be considered.

8. Belconnen – Total Score: 81/100

Belconnen is noted for its employment opportunities and quality of schools but has moderate rental yields.

Scoring Criteria:

• Market Growth: 8/10
• Rental Yield: 7/10
• Employment Opportunities: 9/10
• Population Growth: 8/10
• Quality of Schools: 9/10
• Community and Lifestyle: 8/10
• Median House Price: 8/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 8/10
• Rental Vacancy Rate: 8/10

Belconnen stands out for its strong employment opportunities and excellent schools. The suburb is home to several government agencies and the University of Canberra, providing ample job prospects. Population growth in Belconnen is healthy, supported by its family-friendly environment and quality educational institutions. The suburb offers a balanced lifestyle, with numerous parks, shopping centres, and recreational facilities. Public transport is reliable, facilitating easy commutes.

On the flip side, rental yields in Belconnen are moderate compared to some other suburbs. Median house prices are reasonable, but the market is competitive. Despite these minor issues, Belconnen’s employment prospects and quality of life make it a top choice for investors.

Median prices for Belconnnen, ACT (2617), as of June 2024:

• Houses – $649,000
• Units – $500,000

House and unit data provided by, https://www.realestate.com.au/act/belconnen-2617/

Belconnen’s employment opportunities and quality of schools make it a compelling investment, though moderate rental yields and market competition exist.

7. Phillip (Woden Valley) – Total Score: 82/100

Phillip features excellent public transport and local amenities but contends with higher median house prices.

Scoring Criteria:

• Market Growth: 8/10
• Rental Yield: 8/10
• Employment Opportunities: 9/10
• Population Growth: 8/10
• Quality of Schools: 8/10
• Community and Lifestyle: 8/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Phillip offers a well-rounded living experience with excellent public transport and a plethora of local amenities. The suburb has shown steady market growth, attracting both investors and residents. Rental yields are robust, supported by a diverse population and strong demand for housing. Employment opportunities are abundant, with several government offices and commercial centres in the vicinity. The quality of schools in Phillip is commendable, appealing to families with children.

However, Phillip’s higher median house prices can be a concern for some investors. Despite this, the suburb’s strong infrastructure and amenities, along with its balanced lifestyle, make it a compelling investment option in 2024.

Median prices for Phillip (Woden Valley), ACT (2606), as of June 2024:

• Houses – $710,000
• Units – $577,000

House and unit data provided by, https://www.realestate.com.au/act/phillip-2606/

Phillip’s infrastructure and amenities make it a top investment choice, though higher median house prices may be a barrier.

6. Tuggeranong – Total Score: 83/100

Tuggeranong excels in community and lifestyle but faces challenges with moderate employment opportunities.

Scoring Criteria:

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 7/10
• Population Growth: 9/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 7/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Tuggeranong is known for its strong sense of community and excellent lifestyle amenities. The suburb has demonstrated solid market growth and offers good rental yields. Population growth in Tuggeranong is steady, driven by its family-friendly environment and affordable housing options. The suburb boasts quality schools and a range of recreational facilities, contributing to its appeal. Public transport is efficient, with well-connected bus routes.

On the downside, employment opportunities in Tuggeranong are moderate compared to some central suburbs. Despite this, the suburb’s community-oriented lifestyle and affordability make it an attractive investment choice.

Median prices for Tuggeranong, ACT (2900), as of June 2024:

• Houses – $851,250
• Units – $512,000

House and unit data provided by, https://www.realestate.com.au/act/greenway-2900/

Tuggeranong’s strong community and lifestyle amenities make it a solid investment, though moderate employment opportunities may pose challenges.

5. Weston Creek – Total Score: 85/100

Weston Creek offers excellent schools and community but has higher median house prices.

Scoring Criteria:

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 9/10
• Population Growth: 8/10
• Quality of Schools: 10/10
• Community and Lifestyle: 9/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 8/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Weston Creek is celebrated for its excellent schools and strong community spirit. The suburb has experienced consistent market growth, making it a favourite among investors. Rental yields in Weston Creek are favourable, supported by steady population growth. The suburb’s quality schools are a major draw for families, contributing to its desirability. Weston Creek offers a vibrant lifestyle, with numerous parks, shops, and recreational facilities. Public transport is reliable, ensuring easy access to the CBD.

However, Weston Creek’s higher median house prices can be a barrier for some investors. Despite this, the suburb’s strong community, amenities, and investment potential make it a top pick for 2024.

Median prices for Weston, ACT (2611), as of June 2024:

• Houses – $966,000
• Units – n/a

House and unit data provided by, https://www.realestate.com.au/act/weston-2611/

Weston Creek is renowned for its excellent schools and strong sense of community, making it a highly desirable location for families, although potential investors should be aware that it has higher median house prices.

4. Braddon – Total Score: 86/100

Braddon offers but faces high median house prices.

Scoring Criteria:

• Market Growth: 9/10
• Rental Yield: 8/10
• Employment Opportunities: 9/10
• Population Growth: 9/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 6/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 10/10
• Rental Vacancy Rate: 9/10

Braddon is renowned for its strong employment opportunities and excellent local amenities. The suburb has shown impressive market growth, attracting both investors and residents. Rental yields in Braddon are robust, supported by high demand and a diverse population. Employment opportunities are plentiful, with numerous government departments and commercial centres in the area. The quality of schools is commendable, appealing to families with children. Braddon offers a vibrant lifestyle, with a wide range of shops, cafes, and entertainment options. Public transport is efficient, ensuring easy commutes.

However, Braddon’s high median house prices, at over a million dollars, can be a concern for some investors. Despite this, the suburb’s employment prospects, amenities, and lifestyle make it an excellent investment choice.

Median prices for Braddon, ACT (2612), as of June 2024:

• Houses – $1,457,000
• Units – $582,240

House and unit data provided by, https://www.realestate.com.au/act/braddon-2612/

Centrally located, Braddon’s abundant employment opportunities and extensive amenities make it a highly attractive investment choice, although the high median house and unit prices could pose a challenge for some investors.

3. Franklin – Total Score: 88/100

Franklin offers affordable housing and excellent public transport but faces moderate employment opportunities.

Scoring Criteria:

• Market Growth: 9/10
• Rental Yield: 9/10
• Employment Opportunities: 7/10
• Population Growth:10/10
• Quality of Schools: 8/10
• Community and Lifestyle: 9/10
• Median House Price: 8/10
• Public Transport and Infrastructure: 10/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Franklin is one of Canberra’s most affordable suburbs, offering excellent investment potential. The suburb has demonstrated strong market growth and favourable rental yields. Population growth in Franklin is impressive, driven by its affordable housing and family-friendly environment. The quality of schools is above average, appealing to families. Public transport is well-developed, with efficient light rail connectivity to the CBD. Franklin offers a vibrant community and a range of local amenities, including parks and shopping centres.

On the downside, employment opportunities in Franklin are moderate compared to some central suburbs. Despite this, the suburb’s affordability and growth potential make it a top investment choice for 2024.

Median prices for Franklin, ACT (2913), as of June 2024:

• Houses – $1,000,000
• Units – $510,000

House and unit data provided by, https://www.realestate.com.au/act/franklin-2913/

Franklin’s combination of affordability and excellent public transport options makes it a strong investment choice; however, potential investors should take into account the moderate employment opportunities available in the area.

2. Wright (Molonglo Valley) – Total Score: 89/100

Wright offers robust market growth and vibrant community feel, but faces higher median house prices.

Scoring Criteria:

• Market Growth: 10/10
• Rental Yield: 9/10
• Employment Opportunities: 8/10
• Population Growth: 9/10
• Quality of Schools: 9/10
• Community and Lifestyle: 10/10
• Median House Price: 7/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 9/10
• Rental Vacancy Rate: 9/10

Wright stands out for its robust market growth and vibrant community. The suburb has shown remarkable growth, attracting investors with its strong rental yields and steady population increase. Employment opportunities are plentiful, supported by nearby commercial centres and government offices. The quality of schools in Wright is excellent, making it a preferred choice for families. Public transport is efficient, ensuring seamless connectivity to various parts of Canberra. The suburb offers a balanced lifestyle, with numerous parks, recreational facilities, and shopping centres.

However, Wright’s higher median house prices can be a concern for some investors. Despite this, the suburb’s growth potential, community, and investment prospects make it the top suburb to invest in Canberra for 2024.

Median prices for Wright, ACT (2611), as of June 2024:

• Houses – $1,297,500
• Units – $489,000

House and unit data provided by, https://www.realestate.com.au/act/wright-2611/

Wright’s impressive market growth and vibrant community atmosphere make it a top investment choice; however, potential investors should be mindful that the higher median house prices in the area may present a financial challenge, however units still are competitively priced.

1. Griffith – Total Score: 90/100

The suburb of Griffith stands out as a clear winner, offering exceptional amenities and a vibrant lifestyle, though its high median house prices reflect its premium appeal. However it continues to outperform most other suburbs in the ACT.

Scoring Criteria:

• Market Growth: 10/10
• Rental Yield: 9/10
• Employment Opportunities: 9/10
• Population Growth: 9/10
• Quality of Schools: 10/10
• Community and Lifestyle: 10/10
• Median House Price: 5/10
• Public Transport and Infrastructure: 9/10
• Local Amenities: 10/10
• Rental Vacancy Rate: 9/10

Griffith is known for its excellent amenities and vibrant lifestyle, making it a prime investment choice. The suburb has demonstrated resilient market growth and high rental yields, driven by strong demand and a diverse population. Employment opportunities are abundant, with numerous government offices and commercial centres nearby. The quality of schools in Griffith is top-notch, appealing to families with children. Public transport is reliable, providing easy access to various parts of Canberra. The suburb boasts a vibrant community, with numerous parks, cafes, and shopping centres.

Despite high median house prices, Griffith’s exceptional amenities, lifestyle, and investment potential make it the best suburb to invest in Canberra for 2024.

Median prices for Griffith, ACT (2603), as of June 2024:

• Houses – $2,181,000
• Units – $645,450

House and unit data provided by, https://www.realestate.com.au/act/griffith-2603/

Griffith’s exceptional amenities and vibrant lifestyle make it the top investment choice for many investors; however, it is important to consider the high median house prices, which could be a significant barrier of entry. Unit are limited, but prices are still affordable, when evaluating it overall.

How I Scored Each Suburb

Market Growth

Market growth refers to the increase in property values over time. It is an essential metric because a suburb with high market growth indicates strong demand and potential for capital appreciation. 

• A suburb with stagnant or declining property values would score a 1. An example is Tharwa, where property values have seen little to no growth in recent years. 
• A suburb experiencing significant and consistent property value increases would score a 10. An example is Campbell, where property values have seen a substantial rise due to its central location and development projects.

Rental Yield

Rental yield measures the return on investment from rental income relative to the property price. It is crucial for investors looking for regular income from their properties. 

• A suburb with low rental yields, such as Oaks Estate, would score a 1 due to lower demand for rentals and higher vacancy rates. 
• A suburb with high rental yields, such as Lyneham, would score a 10 due to strong rental demand and competitive rental prices.

Employment Opportunities

Employment Opportunities refer to the availability of jobs within or near the suburb. It is important because areas with ample job opportunities attract more residents and renters. 

• A suburb with limited employment opportunities, like Uriarra Village, would score a 1 due to its remote location and lack of nearby job centres. 
• A suburb with abundant employment opportunities, such as Barton, would score a 10 due to proximity to major government offices and commercial centres.

Population Growth

Population growth indicates the increase in the number of residents in a suburb. High population growth typically signals a desirable area with growing demand for housing. 

• A suburb with declining or stagnant population growth, like Hall, would score a 1 due to its small size and limited development. 
• A suburb with rapid population growth, such as Crace, would score a 10 due to its new housing developments and attractive living conditions.

Quality of Schools

Quality of schools refers to the standard of education provided by local schools. It is a significant factor for families looking to invest in areas with good educational facilities. 

• A suburb with few or poorly rated schools, like Symonston, would score a 1 due to the lack of educational facilities. 
• A suburb with highly rated schools, such as Red Hill, would score a 10 due to its excellent educational institutions.

Community and Lifestyle

Community and lifestyle refer to the overall living experience, including recreational facilities, community engagement, and overall vibe of the suburb. 

• A suburb with limited community activities and poor lifestyle amenities, such as Pialligo, would score a 1.
• A suburb with a vibrant community and numerous lifestyle amenities, such as Yarralumla, would score a 10.

Median House Price

Median house price measures the typical cost of purchasing a house in the suburb. It is crucial for investors to consider affordability and potential for future growth. 

• A suburb with extremely high house prices, like Forrest, would score a 1, making it less accessible for average investors. 
• A suburb with affordable house prices relative to its amenities, such as Dunlop, would score a 10.

Public Transport and Infrastructure

Public transport and infrastructure assess the availability and quality of transportation options and infrastructure in the suburb. 

• A suburb with poor public transport and infrastructure, such as Coree, would score a 1. 
• A suburb with excellent public transport and infrastructure, such as Civic, would score a 10 due to its comprehensive transport network.

Local Amenities

Local amenities refer to the availability of shops, parks, restaurants, and other facilities that contribute to the quality of life. 

• A suburb with few local amenities, like Oaks Estate, would score a 1. 
• A suburb with abundant local amenities, such as Kingston, would score a 10.

Rental Vacancy Rate

Rental vacancy rate measures the percentage of rental properties that are vacant. Lower vacancy rates indicate higher demand for rentals. 

• A suburb with high vacancy rates, such as Fyshwick, would score a 1. 
• A suburb with low vacancy rates, such as Harrison, would score a 10 due to high rental demand.

My Research: A Blend of Data and Local Insights

My research involved extensive fieldwork, visiting each suburb to get a first-hand feel of the area, complemented by data analysis from reputable sources. Physically visiting the suburbs allowed me to experience the community vibes and lifestyle amenities. For instance, in Bruce, I enjoyed a delightful brunch at Café Momo, observing the bustling student crowd from the nearby University of Canberra. The vibrant community and well-maintained parks, such as the Gossan Hill Nature Reserve, highlighted the area’s appeal for young professionals and families alike.

I also relied on a wealth of research material, including property market reports, articles, and news from trusted domains like Domain.com.au, Realestate.com.au, and the Australian Bureau of Statistics (ABS’s). These sources provided critical data points on market growth, rental yields, and population demographics. For example, the consistent market growth in Gungahlin was supported by data from Domain’s quarterly property market report, indicating a steady increase in property values over the past five years.

Local insights were further enriched by engaging with residents and business owners. In Belconnen, conversations with locals at the Westfield Belconnen shopping centre revealed the suburb’s strong employment opportunities and family-friendly environment. The presence of the University of Canberra and numerous government agencies in the area underscored the suburb’s robust employment landscape, making it an attractive investment option.

Dining at Little Brooklyn in Kingston gave me a taste of the suburb’s vibrant nightlife and dining scene. The lively atmosphere, coupled with the convenience of nearby amenities and efficient public transport, highlighted why Kingston is a favourite among young professionals. Similarly, enjoying a meal at Ellacure and The Coffee Groundss in Bruce showcased the suburb’s thriving culinary scene and its appeal to a diverse range of residents. 

In Conclusion

Investing in real estate can be a challenging endeavour, but choosing the right suburb can make a significant difference in your returns. After thorough research and analysis, I’ve identified the top 10 suburbs in Canberra, for investment in 2024:

1. Griffith – Total Score: 90/100
2. Wright (Molonglo Valley) – Total Score: 89/100
3. Franklin – Total Score: 88/100
4. Braddon – Total Score: 86/100
5. Weston Creek – Total Score: 85/100
6. Tuggeranong – Total Score: 83/100
7. Phillip (Woden Valley) – Total Score: 82/100
8. Belconnen – Total Score: 81/100
9. Gungahlin – Total Score: 78/100
10. Bruce – Total Score: 76/100

These suburbs offer excellent investment opportunities, each with unique strengths. Griffith tops the list with its vibrant lifestyle and amenities, despite high house prices. Wright and Weston Creek both boast strong community vibes and market growth, although higher prices could be a concern. Franklin and Phillip stand out for affordability and excellent public transport, while Braddon and Belconnen offer robust job markets and amenities, despite higher costs. Tuggeranong and Gungahlin provide solid community and lifestyle benefits, with Gungahlin also offering affordable housing. Lastly, Bruce is a convenient option with great amenities, despite its competitive market. Each suburb balances rental yield, growth, and quality of life, making them promising investments for 2024.

By combining these diverse sources of information, I was able to rank the suburbs holistically, ensuring that the recommendations reflect both the statistical strengths and the lived experiences that make these suburbs desirable investment options. If you need help navigating the complexities of the real estate market, consider using a professional residential buyer’s agent for expert guidance and well-informed investment decisions.

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