First Home Buyer Guide: Canberra 2026

Canberra's Housing Market in 2026: What to Expect

As the capital city, Canberra's housing market has shown steady growth over the years. In 2026, Canberra's real estate landscape is expected to reflect the city's continued economic development and population growth. With a mix of modern apartments, townhouses, and traditional homes, the diverse housing options cater to various preferences and budgets.

The median house price in Canberra has been on the rise, and experts predict this trend will continue. As of the latest data, the median price sits around $900,000, making it essential for first home buyers to be strategic about their purchase.

Understanding First Home Buyer Incentives

First home buyers in Canberra can benefit from several government incentives designed to ease the financial burden. The First Home Owner Grant (FHOG) is a significant initiative offering a one-time payment to eligible applicants. In 2026, the ACT government continues to support first home buyers with this grant, which can be a substantial financial boost.

Additionally, first home buyers may benefit from stamp duty concessions, reducing upfront costs significantly. Understanding eligibility criteria and application processes for these incentives is crucial to maximise your benefits.

Practical Tips for First Home Buyers in Canberra

1. Get Pre-Approved for a Loan

Before you start house hunting, securing a pre-approval from a lender is wise. This not only clarifies your budget but also positions you as a serious buyer. Lenders typically look at your credit history, income, and current financial obligations to determine your borrowing capacity.

2. Research Neighbourhoods Thoroughly

Canberra offers diverse neighbourhoods, each with unique characteristics. Conduct thorough research to find areas that align with your lifestyle, commute preferences, and future growth potential. Suburbs like Gungahlin and Belconnen remain popular for their amenities and community feel.

3. Factor in Additional Costs

Beyond the property price, first home buyers should account for additional costs such as legal fees, inspection costs, and moving expenses. Budgeting for these extras ensures a smoother transition into homeownership.

4. Use a Buyer’s Agent

Consider enlisting the help of a buyer’s agent, especially if you're unfamiliar with the Canberra market. A buyer’s agent can provide invaluable insights and negotiate on your behalf, potentially saving you money and time.

Common Mistakes to Avoid

1. Overextending Financially

A common pitfall is committing to a mortgage that stretches your finances too thin. Ensure your mortgage repayments are sustainable and leave room for other life expenses.

2. Skipping Property Inspections

Always conduct thorough property inspections to avoid unexpected repair costs. This step is crucial in Canberra’s older properties where hidden issues may arise.

3. Ignoring Future Market Trends

While current property values are important, consider future market trends and potential resale value. Neighbourhoods with planned infrastructure improvements often appreciate over time.

How Esteb and Co Can Help

At Esteb and Co, we specialise in guiding first home buyers through the complexities of the Canberra housing market. Our experienced mortgage brokers offer personalised advice, helping you secure the best loan products tailored to your needs. We simplify the process, from loan pre-approval to settlement, ensuring a stress-free experience.