The Canberra homes for sale that are perfect for a first-home buyer

Soaring property prices across Australia have left more first-home buyers turning to the Bank of Mum and Dad for help getting onto the property ladder and with the time it takes to save for a house deposit increasing, first-home hopefuls are looking for bargains.

According to the Domain First-Home Buyer Report, it now takes seven years and one month for a first-home buyer to save a 20 per cent deposit, which is calculated on the entry-level price for property in each city, or the 25th percentile. In Canberra, that figure is $827,000 for a house.

For a unit, the time it takes to save the 20 per cent deposit is shaved down to three years and nine months, with the threshold for a unit in the bush capital at $437,500.

The calculation is based on the earnings of a couple on average incomes for their respective city, between 25 to 35 years old, and who can save 20 per cent of their pay in a standard online savings account. This doesn’t take into account any transactional costs incurred in buying property.

So if you’re on the hunting spree, saving homes to your wishlist or to your inspection planner, we’ve gathered eight homes on the market right now under a first-home buyer budget.

Houses/townhouses for sale:

Ngunnawal

View property

This single-level two-bedroom townhouse offers ample space in the living and bedrooms. The private paved courtyard is perfect for hosting family and friends.

Price guide: $595,000 +

Private sale

Agent: Southern Property Canberra, Adrian Southern 0400 509 262

Charnwood

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Nestled in a quiet cul-de-sac, this home is spacious sitting on 681 square metres of land, including 114 square metres of living.

Price guide: Offers over $780,000

Private sale

Agent: Independent Our Team, Mark Larmer and Aaron Lewis 0403 215 246

Monash

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Located within the Meriwood complex, this home has generous living and dining areas. It also features solar panels, ducted heating and evaporative cooling for year-round comfort.

Price guide: $685,000 +

Private sale

Agent: Solely Properties, Ben James 0448 445 841

Ngunnawal

View property

This three-bedroom townhouse features a cosy study nook and a handy storage space under the stairs. 

Price guide: $575,000 +

Private sale

Agent: Upside – National, Catherine Halloran 0490 045 819

Units for sale:

Belconnen

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Located on the 13th floor, this charming apartment enjoys views of Canberra’s Belconnen region. It also has a communal library, outdoor terrace, conference room and commercial kitchen.

Price guide: Offers Over $384,900

Private sale

Agent: Badenoch Real Estate Sales, Lucia Marzano 0435 791 119

Crace

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Convenience is key at this apartment with the local shops, gym, cafes and pubs only a stone throw away.

Price guide: $399,000+

Private sale

Agent: Luton Properties Gungahlin, Adrian Giampietro 0449 559 225

Watson

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This one-bedroom apartment is drenched in natural light, complemented by new timber plank flooring and freshly painted walls throughout.

Price guide: $430,000 +

Private sale

Agent: Blewitt Properties, Brenden Blewitt 0419 289 574

Kingston

View property

Located in sought-after Kingston, this home enjoys leafy views from every window and open plan living that spills seamlessly onto the spacious balcony.

Price guide: $399,000 +

Private sale

Agent: Belle Property Canberra, Samantha Linsdell 0402 507 902