Demand shifts, nationally and locally
October brought a clear signal. National dwelling values rose by 1.1 per cent, the strongest monthly gain since mid 2023. Lower rates, improved borrowing capacity and limited stock are working together to push activity higher. It is more than optimism, it is pressure created by real constraints.
In Canberra, this pattern is noticeable, but repeating the same approaches to supply will not address the underlying scarcity.
Rezoning moves the dial near Googong and Queanbeyan
The Queanbeyan Palerang Regional Council has approved the rezoning of a thirty hectare parcel between Googong Township and Queanbeyan. The change allows for about eighty six new lots between six hundred and one thousand square metres.
This is not a simple fringe release. It reflects a broader recalibration of land use, planning and growth corridors. For many buyers, this type of release may become a reliable entry point where value, infrastructure and lifestyle align with fewer compromises.
ACT market stability overshadowed by supply constraints
Canberra’s median dwelling value continues to edge higher, supported by strong rental demand and restrained listing volumes. On the surface it looks stable.
The approval pipeline tells a different story. In September, the ACT recorded only ninety one new dwelling approvals, well short of what is required to meet ongoing demand. A market can only stay balanced for so long when supply continues to tighten.
That combination of firm prices and falling approvals suggests stability may weaken unless planning and delivery shift into gear quickly.
What this means in practice
Buyers
Look where supply is actually taking shape. Greenfield corridors such as Googong and Queanbeyan may present stronger value than some inner suburbs that lack aligned supply. Be prepared, act quickly and treat timing as part of your strategy.
Sellers and developers
Land or housing positioned within rezoned or emerging corridors now carries added weight. Buyers are looking for zoning clarity, flexibility and genuine growth potential. Marketing that context attracts informed buyers rather than speculative interest.
Policymakers and planners
The recent rezoning shows policy can still respond when required. The fall in ACT approval numbers is a clear warning. Rezoning without infrastructure and delivery undermines affordability and growth. Planning must anticipate demand rather than trail behind it.
Signals to watch this week
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Initial lot and development lodgements in the Googong Queanbeyan rezoned area
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ACT building approval data for October
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National lending activity and clearance rates
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Pricing and vacancy shifts in fringe growth corridors compared with inner ring Canberra
Hayman Partners’ view
Real value emerges where supply, planning and demand converge. Canberra’s fringe and redevelopment corridors are beginning to show that alignment. If you are buying, selling or preparing a project, anchor your strategy to where the market is genuinely shifting rather than where sentiment lingers.
Our team can help you interpret how these movements apply to your decisions and your timing.
