Googong records one of the highest annual median house price changes in Australia

The suburb of Googong, near Canberra, has recorded one of the highest annual increases in median house price of all suburbs in Australia, new data has shown. 

The Domain House Price Report for the June quarter revealed Googong posted the country’s 13th-highest price growth, with its median house price increasing by 58.1 per cent to exactly $1 million in the 12 months to June 2022. 

Gavin Van Zyl of White Rhino Property Googong-Queanbeyan-Jerrabomberra, a name synonymous with record-breaking sales in Googong, was not surprised by the figures.

“I’ve lived here for almost seven years and have seen property prices and the community go from strength to strength… and I only see it trekking upwards moving forward,” he said.

“We noticed a lot of growth on a weekly basis for the last few years and we’ve been hitting a number of records whether that was an apartment, house or a block of land… property prices are now in line with Canberra prices.”

Lauren Laing of The Property Collective, who has listed 70 Mary Street, Googong, said she had noticed a surge in people looking to buy in the area.

A large part of the reason people are being drawn to Googong, as well as other suburbs neighbouring the ACT, is due to its relative affordability, she said. 

“Larger blocks in Googong are cheaper than what you get in Canberra, and even though it has seen a large spike in prices, there is still better value in Googong than the ACT,” she added. 

“The suburb is also only just a short drive into the Queanbeyan Town Centre and Canberra.

“It’s just a wonderful community and place to live, really. There are great schools being built, playing fields, walking tracks and more.” 

Agent Sam Glyde of Belle Property Canberra also said people were drawn to Googong to get away from the hustle and bustle of the city centre, while still living just a stone’s throw away. 

“The town itself is expanding as there has been a new land release and plenty of blocks of land coming up for sale each week, which more and more Canberra-based people are looking to purchase. “

The interest in purchasing in Googong, about 10 kilometres away from Queanbeyan, supports the news that Canberrans have also flocked to suburbs across the border for cheaper rents. 

“The area has been popular amongst investors as well because the rental return is quite healthy,” Van Zyl added.

With the ACT population expected to reach 500,000 people at the end of the decade, Van Zyl expects this growth to spill across the border.

“I think a lot of people will move not only to Googong but also to Queanbeyan and Jerrabomberra. It’s a rural hub that’s close to the city,” he said.

“And with a lot of infrastructures currently underworks including a new school, I anticipate more growth not only to the area but to property prices in Googong. While other areas might see a decline because of rising interest rates, I think Googong will buck this trend.”

The self-contained area will eventually comprise five neighbourhoods and will be home to around 18,000 people and 6500 homes.