Gordon's median house price soars

Gordon has emerged as the Canberra suburb with the fastest-growing house prices, with its median soaring by an impressive 61.3 per cent over the past five years to $855,000.

Nestled at the foot of the Brindabella Mountains in the Tuggeranong region, the suburb has also been one of the few to record robust annual growth. According to Domain’s latest House Price Report, Gordon’s median house price has increased by 4.9 per cent over the past 12 months.

The Property Collective’s Jeremy Grobben was not surprised by the escalation in the median house price for the popular suburb. “Gordon is a peaceful area, with properties in the elevated areas offering stunning mountain views, while the lower precincts of the suburb provide immediate access to popular walking trails and the Brindabellas.

“The suburb is also well serviced by the Lanyon Marketplace, which delivers a vibrant cafe and shopping lifestyle, and there are also sought-after amenities such as expansive sporting grounds and schools.

“When I started in real estate 10 years ago, Belconnen was the key suburb that was taking off, so homes in the Tuggeranong region were seen as a more affordable option, but that has changed,” he says.

The median house price in Belconnen recorded moderate growth of 1.6 per cent over the past 12 months, with its median price now only marginally higher than Gordon at $865,000, according to Domain.

Less surprisingly, the sought-after suburb of Curtin in the Woden Valley precinct also experienced strong growth, with its median house price rising by 60.6 per cent over the past five years to reach $1.454 million. Over the past year, Curtin’s median house price rose by 3.9 per cent.