First-home buyers flock to Canberra's far north

Canberra’s northern-most suburb is luring first-home buyers to its realm, propped by affordable quality homes and easy access to family-friendly amenities.

Located less than four kilometres from the bustling Gungahlin Town Centre and on the doorstep of nature reserves, Bonner offers residents its own local shops, the Neville Bonner Primary School, public transport options, and recreational facilities, such as the Bonner Playing Fields.

Ankit Karwar of Mainstream Real Estate noted that the recently snapped-up three-bedroom house at 97 Essie Coffey Street attracted considerable interest from first-home buyers.

Despite being passed in at auction on March 16, the property ultimately sold on the day for $875,000.

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Karwar said there were eight registered bidders vying for the home, seven of whom were first-home buyers.

Set on a modest 333-square-metre block, the striking residence boasts an inviting open-plan kitchen and living space. The private main bedroom suite includes a spacious walk-in wardrobe and deluxe en suite. Other features include a covered outdoor entertaining area and separate backyard space.

Bonner’s median house price fell 7.3 per cent from 2023 to $912,500. Domain sales data reveals that the current median price of a three-bedroom property is $814,000.

The drop in prices over 2023 can be attributed mainly to rising interest rates affecting the broader housing market, but stable cash rates are instilling confidence once more in those seeking to enter the property market.

A four-bedroom home at 8 Dinah Street went for $930,500 at the end of 2023, while another four-bedroom house – at 160 Roden Cutler Drive – sold for $927,000 in January.

During the week, Karwar sold the three-bedroom, two-bathroom property at 10 Abdullah Street for an undisclosed price. The property last sold in 2020 for $560,000.