Canberra, located within the Australian Capital Territory (ACT), is the capital of Australia and offers a range of accommodation options to suit all budgets. Unlike other major Australian cities, Canberra was purpose-built to be the capital and does not have a significant historical background. However, this doesn't mean it lacks culture – quite the opposite! It is home to many national institutions, including Parliament House, the High Court, the National Gallery of Australia, and the Australian War Memorial.
Canberra is also renowned for its wide-open spaces and parks and gardens. You only need to spend a few hours in Canberra to notice the very well-planned design of the city, with wide roads and bike paths, making it easy to navigate.
Canberra's neighborhoods
Rental prices in Canberra vary depending on the geographic location of the property, the area and the number of rooms. The most popular areas in terms of accommodation in Canberra are Forrest, Yarralumla, Deakin, Red Hill, Hughes, Garran, Lyons, Curtin, Braddon, and Barton, which has been named the most lifestyle-friendly suburb due to its easy commute into the city center - six minutes by car and 21 minutes by public transport. These neighborhoods are popular with expats, offer ease of access to the city, retail and dining options, and have a range of housing options available. However, they are some of the most expensive areas to live in, with Forrest and Griffith topping the list.
The surrounding districts of Woden, Weston Creek, Belconnen, and Tuggeranong (said to be the most picturesque part of town), and are also popular with commuters to the centre. These areas offer shopping and dining, as well as schools, hospitals and parks. The living environment is pleasant, although the cost of living can be high.
Some of Canberra's most popular neighborhoods include:
- Braddon: If you're looking for a trendy downtown vibe, Braddon is the place to be. It's a melting pot of different cultures and home to some of Canberra's best bars, restaurants, and cafes.
- Kingston: Kingston is a popular choice for families and young professionals. It's known for its tree-lined streets, boutique shops, and waterfront dining options.
- Belconnen: Belconnen is a suburban area that's popular with families. It's known for its shopping centers, parks and recreational facilities.
- Gungahlin: Gungahlin is a rapidly growing neighborhood that's popular with families and young professionals. It's known for its modern apartments, parks, and recreational facilities.
- Dickson: Dickson is a diverse neighborhood that's popular with students and creatives. It's known for its multicultural restaurants, cafes, bars, and hipster vibe.
The rental market in Canberra
To find housing in Canberra, you need to determine in advance the type of accommodation you prefer and what your budget will allow. As in all Australian cities, rents in Canberra are advertised by weekly rates rather than monthly, which is different than in other countries. Generally, the rent will then be paid to the landlord or rental agencies, either fortnightly or monthly, by bank transfer or deposit. Generally, when signing a contract or lease, to rent the property, you will also need to pay one month's bond as a security deposit, as well as two or four weeks of rent up-front. Rental periods are most commonly for six months or one year, but you can sometimes negotiate longer or shorter durations.
Flats can be found both furnished or unfurnished and may or may not include appliances such as a washing machine, dryer, or refrigerator, so it is always good to double-check this before signing a contract. It is also good to check if pets are allowed, as many landlords in Canberra do not allow cats and dogs.
Landlords tend to include the water costs as part of your rent, but tenants are responsible for electricity, gas, and internet/cable costs. Canberra can get very cold in the winter months and very hot in the summer, so the climate may impact your heating and electricity bills. If any damages are done to the property, the tenant may be responsible, so it is important to let your rental agency or landlord know if anything goes wrong.
Rental properties in Canberra can be in high demand due to the large number of residents employed by the government, so it is helpful to begin your search before you move. Most vacant properties are advertised online, so that is the best place to start. Domain and Real Estate are the most popular online websites to search.
Rental prices can vary greatly, depending on factors such as location and size. However, it is said that Canberra has the highest rental prices for houses out of all the Australian capital cities. The average rent for a house in Canberra is AUD 690 a week, and for a flat, it is AUD 550. Flatshares, or renting a room within a house or flat, can cost less per week. Flat sharing is also a good option for students and backpackers to meet people or those who do not wish to be tied into a long-term rental contract. Popular websites for flat sharing in Canberra include Flatmates, Share Houses, Gumtree, and Flatmate Finders.
Short-term rental options in Canberra
If you're looking for short-term accommodation options in Canberra while you wait for your ideal house to become available, several options are worth considering. For instance, some Airbnb hosts offer month-long rental options beyond the usual short-term stays. Even if they don't advertise this on their listing, you can always approach Airbnb hosts with this proposal, as it simplifies the logistics of multiple short-term rentals.
Another option is house swapping, which involves exchanging homes with someone else for a specified period. This can be a great way to experience life in a different location while also being cost-effective. Websites such as HomeExchange and Love Home Swap facilitate house swaps and provide a platform for connecting with other Canberra homeowners who may be interested in a house swap.
Student accommodation in Canberra
Canberra is home to two prestigious universities, the Australian National University (ANU) and the University of Canberra (UC), making it an excellent place to study. If you are coming to Canberra as an international student, the universities offer on-campus accommodation ranging from dorm rooms and self-contained apartments.
There's always the option of sharing a flat or house with other students, which is a great way to save money, especially as rent in Canberra is known for being very high. Sharing allows students to split the costs of rent and utilities.
One popular option in Canberra is UniLodge. They have multiple properties in the city, including the UniLodge @ ANU, which is located in the heart of the Australian National University campus.
Buying a house in Canberra
If you want to buy a house in Canberra, some restrictions may apply if you are not a permanent resident in Australia. Generally, temporary residents can only purchase one property for their sole residential use but are not allowed to purchase an investment property. The type of dwelling they can buy is also restricted – only vacant land, new dwellings, or off the plan, and they must receive the approval of the Foreign Investment Review Board (FIRB). After permanent residency is obtained, this creates more possibilities in terms of investment properties. To know more about the regulations regarding the purchase of real estate, please visit the Foreign Investment Review Board website.
Canberra's property market
According to forecasts, Canberra's property market is expected to see a 9% decline in 2023, following a 7% decrease in 2022. The median house price in 2023 is forecast to be AUD 871,949, and the median unit price is AUD 688,200.
If you are considering buying a house in Canberra, make sure to do your research and have a good sense of your budget. There are often hidden costs, and we recommend engaging a real estate agent who will know the market inside out.
Property search tools in Australia
Domain - Domain is a popular real estate website in Australia. It isn't ACT focused, but it allows you to search for properties in Canberra and anywhere else in the country.
Realestate.com.au - This website is one of the most popular real estate search tools in Australia. It has a large database of properties listed by real estate agents (and private sellers, too!).
Homely - Homely is another real estate search tool that allows you to find properties in Canberra and other cities across Australia.
We do our best to provide accurate and up to date information. However, if you have noticed any inaccuracies in this article, please let us know in the comments section below.
