12 Affordable Suburbs in Canberra for First Home Buyers in 2025

Looking for affordable suburbs in Canberra without sacrificing your quality of life? You're not alone. 

Canberra’s strong job market, top-rated schools, and excellent amenities make it a desirable place to live, but not all areas come with a high price tag. Thanks to thoughtful urban planning, steady growth, and great transport links, some suburbs remain surprisingly budget-friendly. 

If you’re considering buying in one of these areas, Home Loan Broker Canberra can help you secure a competitive home loan, saving you time and simplifying the process. With our brokers' expert guidance, you’ll have access to better rates and tailored options that fit your budget. 

Let’s explore 12 Canberra suburbs where you can find affordability without compromise.

#1  Belconnen

Belconnen is a popular choice for first-home buyers due to its affordable housing options and strong sense of community. It has excellent public transport hubs, shopping centres, and educational institutions, making it ideal for professionals and families. With a mix of modern living and numerous parks, it provides a comfortable lifestyle at a reasonable cost.

• Well-connected with public transport and major roads
• Affordable homes with a variety of options
• Close to retail outlets, restaurants, and recreation
• Median house price: $717,000​
• Median unit price: $471,000
• Average house rent: $580 per week
• Average unit rent: $535 per week

#2  Kambah

Kambah, one of Canberra’s largest suburbs, offers a mix of affordability and space. It features affordable homes, recreational facilities, and a family-friendly environment, making it a secure housing option. With easy access to shopping centres and excellent schools, it suits young families and professionals alike.

• Largest suburb with plenty of housing options
• Proximity to numerous parks and walking trails
• Affordable housing properties with strong resale value
• Median house price: $866,500​
• Median unit price: $620,250
• Average house rent: $650 per week
• Average unit rent: $515 per week

#3  Charnwood

Charnwood is one of the cheapest suburbs in Canberra, ideal for first-home buyers looking for affordable living. It has a tight-knit community atmosphere with community amenities like parks, schools, and shopping centres. The median house prices remain lower than other suburbs, making it an attractive housing market.

• One of the most affordable suburbs in Canberra
• Strong community spirit and hub of community activity
• Close to public transport and retail outlets
• Median house price: $685,500 
• Median unit price: $583,500
• Average house rent: $585 per week ​

#4  Banks

Banks provides a peaceful lifestyle with a balance of affordability and quality living. It features a secure environment, affordable housing properties, and numerous parks for families. The area also offers good public transport links to the city centre and surrounding suburbs.

• Affordable lifestyle with access to nature
• Proximity to schools, parks, and public transport
• Safe housing options for first-home buyers
• Median house price: $750,000​
• Median unit price: Data not available​
• Average house rent: $630 per week

#5  Holt

Holt is known for its blend of community engagement and affordable housing initiatives. The median housing costs are lower than other suburbs, making it an excellent choice for first-time buyers. It also offers easy access to public transport hubs and shopping centres.

• Affordable homes with strong community engagement
• Close to public transport hubs and major roads
• Good mix of affordable housing units and townhouses
• Median house price: $805,000​
• Median unit price: $666,000​
• Average house rent: $630 per week
• Average unit rent: $540 per week​

#6  Richardson

Richardson provides a safe housing environment with a variety of housing options for first-home buyers. It has numerous parks, a community watch program, and affordable homes. The area is ideal for those looking for a suburban lifestyle without high living expenses.

• Family-friendly environment with a secure housing feel
• Close to community centres and public transport
• Affordable capital city living with a strong community
• Median house price: $800,000​
• Median unit price: $690,000​
• Average house rent: $620 per week​

#7  Moncrieff

Moncrieff offers modern living with a harmonious balance of affordability and lifestyle. With upcoming infrastructure developments, it has become an attractive option for first-home buyers. The suburb provides a safe environment, access to amenities, and plenty of housing assistance programs.

• Affordable housing initiatives for first-home buyers
• Upcoming infrastructure developments and retail expansion
• Numerous parks and excellent amenities nearby
• Median house price: $1,007,500
• Median unit price: $655,000
• Average house rent: $740 per week
• Average unit rent: $610 per week

#8  Latham

Latham is a secure environment with affordable living options. It has a cohesive community atmosphere, plethora of community events, and public transport hubs connecting to the city centre. First-home buyers appreciate its suburban lifestyle with affordable housing properties.

• Affordable homes in a tight-knit community atmosphere
• Public transport access to the city centre
• Quality living with a mix of affordable housing units
• Median house price: $806,000​
• Median unit price: $788,500
• Average house rent: $650 per week​

#9  Ngunnawal

Ngunnawal offers affordable housing options with a strong community. The area has affordable housing initiatives, community organisations, and educational institutions, making it a great option for families. The suburb’s median housing prices remain attractive for first-time buyers.

• Variety of housing options with affordable choices
• Excellent schools and educational institutions nearby
• Friendly community vibe with strong community engagement
• Median house price: $775,000
• Median unit price: $640,000
• Average house rent: $610 per week​
• Average unit rent: $560 per week​

#10  Chisholm

Chisholm is a safer suburb with affordable lifestyle opportunities. The area has retail outlets, service stations, and numerous parks, making it a liveable suburb for first-home buyers. With a mix of affordability and convenience, it remains a popular choice.

• Affordable homes with good investment potential
• Community spirit and tight-knit community atmosphere
• Easy access to shopping and essential services
• Median house price: $820,000
• Median unit price: $798,250​
• Average house rent: $662 per week

#11  Coombs

Coombs is a modern suburb with quality education options and strong infrastructure. It offers a blend of community and suburban lifestyle, making it an attractive housing market for first-home buyers. The area has numerous parks and recreational facilities.

• Affordable housing options in a developing suburb
• Upcoming infrastructure developments boosting property value
• Public transport hubs with easy city access
• Median house price: $1,282,500
• Median unit price: $691,000
• Average house rent: $595 per week​
• Average unit rent: $600 per week​

#12  Macgregor

Macgregor provides affordable homes with a high-quality lifestyle. It has a secure environment, community facilities, and excellent schools, making it a great choice for families. The property market here offers good long-term value for first-home buyers.

• Affordable housing properties with future growth potential
• Access to schools, parks, and shopping facilities
• Public transport hubs for convenient commuting
• Median house price: $790,000
• Median unit price: $561,000​
• Average house rent: $600 per week​
• Average unit rent: $555 per week​

Sources: All Homes, CoreLogic, Domain. Note that the figures above are subject to change, so it’s best to consult with your real estate agent with current market figures.   

These affordable suburbs provide a harmonious balance of affordability, quality living, and community engagement, making them ideal for first-home buyers in Canberra.

If you’re looking to buy an affordable home in one of Canberra’s booming suburbs, our brokers at Home Loan Broker Canberra can help! Call 02 6173 6397 to start your homeownership journey with the right financial solution!

Canberra Property Market in 2025: Insight Into Affordable Homeownership

The Canberra property market continues to evolve, offering potential growth prospects for first-home buyers. As of December 2024, the average house price in Canberra is $970,000, while affordable units in some booming suburbs remain below $600,000.

Many popular suburbs, including Belconnen, Tuggeranong, and Ngunnawal, offer more accessible average property prices for eligible buyers. The annual growth rate for Canberra housing is projected at 3.5% in 2025, with growth rates expected to remain steady. 

For first-home buyers, Canberra remains an attractive market due to government incentives, a strong rental market, and access to affordable units in booming suburbs. With steady price growth and new development opportunities, buyers can still enter the market at a reasonable cost while benefiting from long-term potential growth prospects.

Frequently Asked Questions (FAQs)

What is the cheapest suburb to buy in Canberra?

Charnwood is often considered the cheapest suburb to buy in Canberra, with a median property price lower than many outer suburbs. It offers affordable houses and rental properties, making it a great option for eligible buyers looking for an entry into the market.

Which suburb is best to live in Canberra?

Suburbs like Belconnen, Tuggeranong, and Ngunnawal are popular due to their well-developed infrastructure, affordable properties, and strong population growth. These areas provide a good mix of detached houses and two-bedroom units, catering to different types of buyers.

What are the dodgy suburbs of Canberra?

Some prospective buyers may avoid areas with higher vacancy rates and lower rental yields, such as parts of Queanbeyan and some older outer suburbs. However, these areas still offer affordable options, and a property expert can help you make informed decisions.

What are the most expensive suburbs in Canberra?

Suburbs like Yarralumla, Forrest, and Deakin have the highest property prices, with median values well above the city average. These areas attract strong demand due to their current development opportunities, proximity to Canberra City, and luxury residential properties.

How can I find affordable properties in Canberra?

Using a buyers agent or a real estate agent can help you navigate the property search for affordable options. Checking median price trends, unit values, and price increases in suburbs for houses can also help prospective buyers make smart investments.

What government assistance is available for first-home buyers in Canberra?

First-home buyers in Canberra may qualify for stamp duty concessions, lenders mortgage insurance discounts, and other incentives. These programs help eligible buyers reduce the purchase price and manage loan repayments more easily.

Is it better to buy a unit or a house in Canberra?

It depends on your budget and goals—detached houses tend to appreciate in value due to strong demand, while two-bedroom units and prices for units in the unit market offer a more affordable entry into property ownership. Consulting a property valuer can help you assess the implications for property owners based on market trends.

Final Thoughts

Buying a home in suburbs in Canberra in 2025 is an exciting step, especially with so many affordable options available. Whether you're looking for a quiet suburban lifestyle or a spot in one of Canberra’s booming suburbs, there’s a place that fits your budget and needs. 

Need help with home loan financing? Our expert brokers at Home Loan Broker Canberra can guide you through the process, find the best loan options, and make buying your first home easier. Book a free consultation today—contact us here or call 02 6173 6397 to get started!