Belconnen vs MelbaTwo Canberra suburbs compared for a home loan
Belconnen (ACT 2617) is approximately 9 km north-west of Canberra's city centre. Melba (ACT 2615) is approximately 12 km north-west of the Canberra city centre, in western Belconnen. At the 2021 Census, Belconnen had 8,502 residents with a median age of 30, and Melba had 3,383 residents with a median age of 38.
The most common occupied dwelling was flats and apartments in Belconnen and separate houses in Melba. Flats and apartments made up 75% of occupied dwellings in Belconnen and 2% in Melba, while 64% of Belconnen households rented compared with 21% in Melba. 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 2615 · Belconnen
Melba
Melba is a western Belconnen suburb named after Dame Nellie Melba, built of large houses where only 20.7 per cent of households rent.
Australian Capital Territory. Approximately 12 km north-west of the Canberra city centre, in western Belconnen.
Read the full Melba guide
What buying in Belconnen and Melba 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 Melba.
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 Melba 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 Melba: 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 | Melba |
|---|---|---|
| People and households | ||
| Residents | 8,502 | 3,383 |
| Median ageAustralia 38 | 30 | 38 |
| Average household sizeAustralia 2.5 | 1.9 | 2.7 |
| Median household income, weeklyAustralia $1,746 | $1,776 | $2,326 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $430 | $400 |
| Median mortgage repayment, monthlyAustralia $1,863 | $1,517 | $2,100 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 64% | 21% |
| Owned with a mortgageAustralia 35% | 21% | 44% |
| Owned outrightAustralia 31% | 11% | 35% |
| Types of home | ||
| Separate housesAustralia 72% | 0% | 80% |
| Townhouses, terraces and semi-detachedAustralia 13% | 25% | 18% |
| Flats and apartmentsAustralia 14% | 75% | 2% |
| Homes with two bedrooms or fewer | 81% | 12% |
| Homes with four bedrooms or more | 1% | 50% |
| Dwellings unoccupied on Census night | 10% | 5% |
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 Melba
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.
Melba
- Upgraders
- First home buyers
- Downsizers
- 1970s housing falls within the loose-fill asbestos installation period.
- At 1,198 occupied dwellings, sales volume in any period is modest.
- Only 20.7 per cent of households rented, so the tenant pool is small for investors.
- Complexes from the 1970s warrant close review of sinking fund adequacy.
- Density potential should not be assumed given limited redevelopment.
Housing stock in Belconnen and Melba 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.
Melba
- Detached houses from the 1970s
- Separate houses numbered 961 at the 2021 Census, 80.2 per cent of occupied homes.
- Four bedroom homes
- At 478 dwellings, slightly ahead of the 461 with three bedrooms at the 2021 Census.
- Townhouses
- The 210 semi-detached or townhouse dwellings counted at the 2021 Census, with only 19 flats.
Official sale price and rent figures for Belconnen and Melba
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.
Melba
No government agency publishes a free median sale price or rent series for Melba, 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 Melba
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)
Melba
Transport
- Transport Canberra buses (bus)
- Ginninderra Drive (road)
- Southern Cross Drive (road)
Amenities
- Melba shops
- Belconnen Town Centre
- Umbagong District Park
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.
Compare Belconnen or Melba with another suburb
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Request a free assessment: Belconnen or Melba
An accredited mortgage broker can check your borrowing power against prices in Belconnen and Melba, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.