How did Canberra's fastest growing suburbs perform in the property market last year?

Greenway is Canberra’s fastest growing suburb, according to Australian Bureau of Statistics figures released this week.

The south-side suburb’s population grew by 18.9 per cent over 2017-18, representing a growth of 387 people to take the total to 2439.

Not only is Greenway experiencing the fastest population growth in Canberra, in 2018 it also recorded the greatest growth in the median unit price of 15.1 per cent to $385,000.

The top 10 fastest growing Canberra suburbs are a mixed bag, with both north and south suburbs featuring on the list, as well as established and new. But in nine of the 10 suburbs, the most transacted dwelling types last year were units.

Unsurprisingly, the fastest growing suburbs are ones where there has been a great deal of new development in recent years.

Coombs followed Greenway, with the Molonglo Valley suburb recording a population growth of 18.6 per cent. Coombs also recorded a growth in the median unit price of 8.3 per cent.

Both Greenway and Coombs placed in the fastest growing suburbs on a national level at ninth and 10th place, respectively.

• Related: Growing demand from Canberra families drives three-bedroom unit market
• Related: The Canberra suburbs where most houses are under $600,000
• Related: Canberra’s most expensive suburbs and where to look instead 

The correlation between strong population and price growth ends there. The third-fastest growing suburb, Philip, had a decline in its median unit price of 13.9 per cent.

Wright, Belconnen, Campbell, Griffith and Braddon all featured in the top 10 and had unit declines.

Kingston was the fifth-fastest growing suburb but the unit price remained unchanged.

Crace was the only suburb in the list where most of the transacted dwellings in 2018 were houses, with a marginal growth of 0.2 per cent.

The ABS figures showed, overall, that Canberra was the second fastest growing capital city with a growth rate of 2.2 per cent. Melbourne was the only city to record a faster pace of growth at 2.5 per cent.

Canberra’s population now sits at 420,960.