Belconnen shines in Canberra’s cooling property market

Canberra’s property market was hit by subdued buyer demand and declining clearance rates in 2024.

Despite these hurdles, pockets of the territory achieved strong auction results.

The Domain End of Year Wrap 2024 revealed some of the capital’s strongest performers were in affordable areas of Belconnen.

The region proved a bright spot in a fluctuating market, hosting eight of the top 14 suburbs that recorded the highest clearance rates.

Latham led the pack at 84.8 per cent, followed closely by Charnwood with 83.3 per cent.

Suburbs such as Florey and Evatt, which recorded clearance rates of 78 and 76.2 per cent, respectively, attracted buyers due to their appealing combination of affordability and convenience.

Agent Team’s Steve Lowe said he wasn’t surprised that Latham experienced strong demand and accompanying growth.

“Latham has been generally undervalued for some time, and yet it offers amenities comparable to those of its neighbouring suburbs,” he said. “It is close to the Kippax Fair shopping centre, quality schools, walking trails, and parklands.

“It’s a great suburb for young families seeking good-sized blocks and affordability.” 

$1,020,000

5 Poole Place, Latham ACT 2615

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Lowe expected the suburb to continue performing well in 2025 as buyers seek affordable alternatives in more established areas.

According to Domain data, the median house price in Latham, Charnwood, Florey and Evatt grew over the past 12 months.

Latham rose by 6.7 per cent to $800,000, Charnwood increased by 7.7 per cent to $700,000, and Evatt climbed by 5.7 per cent to $900,000.

Florey grew by a more modest 0.9 per cent to also reach $900,000.