For property investors wondering where their money could be best spent, a new report has revealed the five Canberra suburbs tipped for the biggest price surges in 2022.
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The Canstar report revealed the Australian suburbs forecast for annual property price growth across 14 regional and capital city markets.
Canberra ranked fifth overall for its prospects for future capital growth, coming in after regional NSW, regional Queensland, regional Western Australia and Sydney in the top four spots.
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Terry Ryder, co-producer of the report, said Canberra was a consistent performer on price growth, which was good news for homeowners or those looking to invest in the capital.
"There's an evenness to the Canberra market that you don't see in Australia's other capital cities, likely because it was a planned city," he wrote.
The report highlighted Harrison, Curtin, Florey, Gungahlin and Isabella Plains as Canberra's top five locations for 2022 price growth.
The report nominated the suburb of Gungahlin in Canberra's north as an ideal investment market, thanks to its low vacancy rate of 0.7 per cent, increasing sales volumes and steady price growth over the past decade.
The median price for a house in Gungahlin was $795,000 in July, according to property data firm CoreLogic.
Jess Smith, principal at Stone Real Estate Gungahlin, said investors were drawn to the suburb, and the wider Gungahlin region, for its location, amenities and range of price points.
"Gungahlin has a very broad range of properties. You can get high-rise, one-bedroom apartments or older apartment blocks that were built 20 to 25 years ago that are fabulous value, all the way through to some of the most astonishing, beautiful homes down in Yerrabi [Pond] in Gungahlin as well," she said.
One of Ms Smith's current Gungahlin listings at 11 Eva West Street is a four-bedroom house on a 450-square metre block.
Price expectations are estimated to be around $1.1 million and about 70 per cent of buyer inquiries have been from investors.
"Eva West [Street] is a perfect example of something that is tucked away inside a beautiful little precinct opposite an incredible playground that makes you feel like you're in the beautiful outer suburbs but you're a stone's throw away from the town centre," Ms Smith said.
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For first-time investors or those with a smaller budget, Isabella Plains in Canberra's south is a sound choice, the report said.
With a median house price of $641,250, the suburb also boasts a very low vacancy rate of 0.2 per cent, a median rental yield of 4.5 per cent and annual price growth of 9.2 per cent.
Tahlia Davidson of One Agency Kambah said the suburb's close proximity to government offices in Tuggeranong was appealing for investors.
"You would never have any issue renting out a property in [Isabella Plains] just given the location," she said.
"It's interesting that the suburbs surrounding Isabella Plains have seen quite big price increases in the last couple of years, so I do think Isabella's ready for a big increase. We're getting a lot of interstate investors as well, which gives you some confidence that the market's going to continue to rise."
Mr Ryder noted those seeking affordability may need to look closer to the ACT border to some of regional NSW's "rising star" suburbs, such as Karabar in Queanbeyan or Goulburn, where the median house prices were $670,000 and $470,000 respectively.
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