Why do people still think it’s cheaper to buy in Queanbeyan?

“It’s stupidly expensive in Canberra — I might have to buy in Queanbeyan!”

For years I’ve heard this quip around the office and among my friends in the market for a new home, and it’s always baffled me.

Where did the perception that Queanbeyan is where you go to buy if you can’t afford to live in Canberra come from? Queanbeyan has always been pitched as Canberra’s older, poorer cousin but I’ve reviewed the data and it’s much cheaper to buy in several Canberra suburbs than it is to buy in little old Queanbeyan.

The median house price in Queanbeyan in 2023 is $765,000 – so if you’re looking to live somewhere less expensive try Charnwood ($641,000), Holt ($740,000) or Banks (also $740,000). Even Ngunnawal is more affordable.

So while they’re not strictly the cheapest properties on the market, homes in Queanbeyan do sit at the lower end of the median house price scale.

Add a “rural NSW town vibe” to the mix, and it’s a combination more and more Canberrans are seeking, according to Ian McNamee & Partners sales agent Lucy MacGregor.

“I would say a high percentage of our purchasers are from the ACT – we see a lot of first home buyers finding value for money in Queanbeyan,” Lucy says.

“We typically have larger block sizes over here, and charming designs that are harder to find – and therefore harder to buy — in Canberra.

“As prices rise in the ACT, people are realising just how conveniently positioned Queanbeyan is. It’s literally 15 minutes to Civic, Tuggeranong and Woden.”

Ray White Queanbeyan sales agent Brad O’Mara remembers a time when it actually was a lot cheaper to buy in Queanbeyan than Canberra, but that gap has closed.

“We do see Canberra buyers coming out to our properties from as far as Belconnen, Weston and Tuggeranong,” Brad says.

“It really depends on what each client wants. What are they looking for? What lifestyle do they want? What services do they need, if any? What budget do they have? Can that be found in the Queanbeyan region for cheaper?

“In most cases, the answer is yes.

“Myths are usually based on a generalised market median, and the reports show that the Queanbeyan region is more affordable.

“Combine that with the great services we have here, and you’ve got an excellent value proposition."

View our Queanbeyan region listings.