The Canberra suburb of O'Connor has emerged as one of the capital's strongest property performers, recording a staggering 18.3 per cent annual growth in house prices according to the latest market data.
The Domain House Price Report for the September quarter reveals the suburb's median house price has climbed to $1,537,500, placing it among Canberra's highest growth areas. The long-term performance is even more impressive, with values surging 39.8 per cent over the past five years.
Location and Lifestyle Driving Demand
Situated just five kilometres from the city centre, O'Connor offers residents a perfect balance of established character and modern convenience. The suburb maintains a leafy, residential atmosphere while providing easy access to major institutions including the Australian National University, Calvary Hospital, and several well-regarded schools.
The area's appeal lies in its ability to offer larger properties with multigenerational living options in a highly sought-after location. This combination has proven irresistible to buyers seeking both space and accessibility.
Scarcity and Development Opportunities
O'Connor's property market strength is further amplified by limited development opportunities, creating scarcity in a location that has become increasingly valued. Planning approvals have become more difficult to obtain, making existing development-approved properties particularly valuable.
The suburb's market conditions were highlighted by a recent off-market sale negotiated by Theo Koutsikamanis of Bastion Property Group. A substantial 992-square-metre property at 38 Nardoo Crescent sold for $1.85 million, having been purchased just one year earlier for $1.34 million.
The corner block property, which included an original three-bedroom timber house, was secured during a pre-marketing campaign by a local developer who recognised the value in both the land size and the DA-approved plans included with the sale.
Market Outlook and Buyer Sentiment
Koutsikamanis noted that such opportunities were increasingly rare in O'Connor's tightly held market. "Properties that already include approved plans are in higher demand than ever, offering a valuable head start in today's challenging development landscape," he said.
The strong performance of the O'Connor market reflects broader trends in Canberra's Inner North, where established suburbs with character homes and convenient locations continue to attract premium prices. With limited new land available for development in these inner areas, existing properties with development potential are becoming increasingly sought after by both homeowners and investors.
The sustained growth in O'Connor demonstrates how Canberra's property market continues to reward locations that offer both lifestyle appeal and strategic positioning close to the city centre and major employment hubs.
