Belconnen vs GungahlinTwo Canberra suburbs compared for a home loan
Belconnen (ACT 2617) is approximately 9 km north-west of Canberra's city centre. Gungahlin (ACT 2912) is approximately 10 km north of Canberra's city centre. At the 2021 Census, Belconnen had 8,502 residents with a median age of 30, and Gungahlin had 8,586 residents with a median age of 31.
In both suburbs the most common occupied dwelling was flats and apartments. Flats and apartments made up 75% of occupied dwellings in Belconnen and 47% in Gungahlin, while 64% of Belconnen households rented compared with 53% in Gungahlin. These differences matter for finance, because lenders assess apartments, strata buildings and houses on land differently.
Both suburbs are in the same state, so transfer duty is calculated on the same scale and the difference in upfront cost comes from the purchase price. The panel below applies that scale, and an estimate of lenders mortgage insurance, to the prices you enter.
ACT 2617 · Belconnen district, north-west Canberra
Belconnen
A guide to buying in Belconnen, the lakeside town centre of north-west Canberra, covering apartments, Crown leases, unit titles and lending.
Australian Capital Territory (no local councils), Belconnen district. Approximately 9 km north-west of Canberra's city centre.
Read the full Belconnen guideACT 2912 · Gungahlin district, northern Canberra
Gungahlin
A guide to buying in Gungahlin, the light rail terminus and town centre of northern Canberra, covering modern homes, apartments and lending.
Australian Capital Territory (no local councils), Gungahlin district. Approximately 10 km north of Canberra's city centre.
Read the full Gungahlin guide
What buying in Belconnen and Gungahlin would mean for the loan
The difference between two suburbs is usually a difference in price, and price drives the deposit, the transfer duty, any lenders mortgage insurance and the repayment. Enter the prices you are seeing and the panel works out each of those for Belconnen and Gungahlin.
Your prices and deposit
Enter the price you are seeing in each suburb. BorrowWise does not quote prices, so the comparison uses yours.
Enter a price for Belconnen to see the repayment, transfer duty and upfront cash.
Enter a price for Gungahlin to see the repayment, transfer duty and upfront cash.
Warning: The interest rate used here is an example only. It is not a comparison rate and is not a rate offered by any lender, and it does not include fees and charges. Different rates, terms, fees or loan amounts will give a different result.
Estimates only. Repayments assume a principal and interest loan at a constant rate, which is an assumption and not a current market rate. Transfer duty is indicative for established homes, first home buyer relief depends on eligibility, and upfront cash includes an allowance of $3,000 for conveyancing and inspections. Lenders mortgage insurance is an estimate and is added to the loan. A lender makes its own assessment.
Belconnen and Gungahlin: Census profile compared
Figures are from the 2021 Census, so rents, repayments and incomes have moved since. They are most useful for comparing one suburb with another and with Australia as a whole.
| Measure | Belconnen | Gungahlin |
|---|---|---|
| People and households | ||
| Residents | 8,502 | 8,586 |
| Median ageAustralia 38 | 30 | 31 |
| Average household sizeAustralia 2.5 | 1.9 | 2.6 |
| Median household income, weeklyAustralia $1,746 | $1,776 | $2,208 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $430 | $450 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,517 | $1,801 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 64% | 53% |
| Owned with a mortgageAustralia 35% | 21% | 33% |
| Owned outrightAustralia 31% | 11% | 13% |
| Types of home | ||
| Separate housesAustralia 72% | 0% | 36% |
| Townhouses, terraces and semi-detachedAustralia 13% | 25% | 17% |
| Flats and apartmentsAustralia 14% | 75% | 47% |
| Homes with two bedrooms or fewer | 81% | 48% |
| Homes with four bedrooms or more | 1% | 31% |
| Dwellings unoccupied on Census night | 10% | 9% |
Source: Australian Bureau of Statistics, 2021 Census (CC BY 4.0). Tenure shares exclude households that did not state their tenure. Dwelling shares are of occupied private dwellings.
Home loan considerations in Belconnen and Gungahlin
Lenders treat houses on land, townhouses and apartments differently, and some apply extra conditions to small apartments, high-density buildings or particular postcodes. These are the points each guide raises.
Belconnen
- First home buyers
- Investors
- Downsizers
- Some lenders cap their exposure within a single tower or reduce the maximum loan-to-value ratio where there is a large supply of new apartments.
- Studio and small one-bedroom apartments may fall below the minimum internal floor area accepted by certain lenders and mortgage insurers.
- Off-the-plan apartments are valued close to settlement, and any shortfall against the contract price must be met from the buyer's own funds.
- Owners corporation levies in buildings with lifts and shared facilities are counted in serviceability assessments, and records may disclose defect rectification works.
- Land is held under a Crown lease, which is the standard tenure in the Territory and is accepted by lenders in the ordinary course.
Gungahlin
- First home buyers
- Upgraders
- Investors
- As-if-complete valuations for new homes in the district can fall below the total contract cost where many similar dwellings are being delivered nearby.
- Apartments above commercial premises, or in buildings with a high share of investor owners, may be assessed more conservatively by some lenders.
- Owners corporation levies for townhouses and apartments are counted as living expenses in borrowing capacity assessments.
- Purchases with a small deposit are likely to attract lenders mortgage insurance, and insurers may apply their own minimum size rules to apartments.
- Land is held under a Crown lease, which lenders accept as standard security, and any building obligations in a new lease should be confirmed before finance is arranged.
Housing stock in Belconnen and Gungahlin compared
Belconnen
- Apartments in towers and mid-rise buildings
- One-bedroom and two-bedroom units near the lake and shopping precinct, many first sold off the plan.
- Older walk-up apartment blocks
- Smaller unit-titled buildings with lower levies but ageing common property that warrants a review of records.
- Townhouse and courtyard complexes
- Medium-density homes from the district's original development, usually with larger floor areas and private outdoor space.
Gungahlin
- Detached homes on compact blocks
- Modern houses, many of two storeys, built within a relatively short period and broadly similar in design.
- Townhouses and terraces
- Attached dwellings, often held under units plans with an owners corporation responsible for common property.
- Town centre apartments
- Mid-rise and taller buildings near the light rail, frequently above ground-floor commercial premises.
Official sale price and rent figures for Belconnen and Gungahlin
Only figures published free of charge by a government agency are shown. Where none is published the space is left empty rather than filled with an estimate. Each guide charts the full series.
Belconnen
No government agency publishes a free median sale price or rent series for Belconnen, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Gungahlin
No government agency publishes a free median sale price or rent series for Gungahlin, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Transport, schools and amenities in Belconnen and Gungahlin
Belconnen
Transport
- Cohen Street Bus Station (bus)
- R8 Rapid (bus)
- Belconnen Way (road)
- Ginninderra Drive (road)
Schools and campuses
- UC Senior Secondary College Lake Ginninderra (secondary, government)
- University of Canberra (tertiary, university)
- Radford College (combined, independent)
- Canberra High School (secondary, government)
- Macquarie Primary School (primary, government)
Amenities
- Westfield Belconnen
- Lake Ginninderra
- John Knight Memorial Park
- Belconnen Arts Centre
- North Canberra Hospital (Bruce)
- University of Canberra Hospital (Bruce)
Gungahlin
Transport
- Gungahlin Place (light rail)
- Gungahlin Place bus interchange (bus)
- Flemington Road (road)
- Gungahlin Drive (road)
- Horse Park Drive (road)
Schools and campuses
- Gungahlin College (secondary, government)
- Burgmann Anglican School (Valley Campus) (combined, independent)
- Harrison School (combined, government)
- Palmerston District Primary School (primary, government)
- Holy Spirit Primary School (primary, catholic)
Amenities
- Marketplace Gungahlin
- Yerrabi Pond
- Gungahlin Leisure Centre
- Gungahlin Public Library
- Gungahlin Community Centre
School listings show name, level and sector only. Enrolment areas change, so confirm eligibility for a specific address with the school or the ACT education department.
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Request a free assessment: Belconnen or Gungahlin
An accredited mortgage broker can check your borrowing power against prices in Belconnen and Gungahlin, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.