Crace vs GungahlinTwo Canberra suburbs compared for a home loan
Crace (ACT 2911) is approximately 8 km north of the Canberra city centre, in southern Gungahlin. Gungahlin (ACT 2912) is approximately 10 km north of Canberra's city centre. At the 2021 Census, Crace had 4,800 residents with a median age of 34, and Gungahlin had 8,586 residents with a median age of 31.
The most common occupied dwelling was separate houses in Crace and flats and apartments in Gungahlin. Flats and apartments made up 15% of occupied dwellings in Crace and 47% in Gungahlin, while 34% of Crace 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 2911 · Gungahlin
Crace
Crace is a recent Gungahlin estate suburb named after the settler Edward Kendall Crace, where 48.3 per cent of households hold a mortgage.
Australian Capital Territory. Approximately 8 km north of the Canberra city centre, in southern Gungahlin.
Read the full Crace 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 Crace 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 Crace 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 Crace 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.
Crace 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 | Crace | Gungahlin |
|---|---|---|
| People and households | ||
| Residents | 4,800 | 8,586 |
| Median ageAustralia 38 | 34 | 31 |
| Average household sizeAustralia 2.5 | 2.8 | 2.6 |
| Median household income, weeklyAustralia $1,746 | $2,811 | $2,208 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $460 | $450 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,400 | $1,801 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 34% | 53% |
| Owned with a mortgageAustralia 35% | 48% | 33% |
| Owned outrightAustralia 31% | 13% | 13% |
| Types of home | ||
| Separate housesAustralia 72% | 70% | 36% |
| Townhouses, terraces and semi-detachedAustralia 13% | 15% | 17% |
| Flats and apartmentsAustralia 14% | 15% | 47% |
| Homes with two bedrooms or fewer | 26% | 48% |
| Homes with four bedrooms or more | 47% | 31% |
| Dwellings unoccupied on Census night | 4% | 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 Crace 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.
Crace
- Upgraders
- First home buyers
- Investors
- Estate design guidelines bind later buyers, not only the original purchaser.
- A construction loan draws down in stages against an as-if-complete valuation.
- Builder contract variations after loan approval can leave a funding gap.
- Median monthly mortgage repayments of $2,400 mean serviceability commonly binds.
- The suburb postdates the loose-fill asbestos installation period entirely.
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 Crace and Gungahlin compared
Crace
- Recent detached estate houses
- Separate houses numbered 1,172 at the 2021 Census, 69.5 per cent of occupied homes.
- Four bedroom family homes
- At the 2021 Census, 651 dwellings had four bedrooms against 456 with three, and 146 had five or more.
- Townhouses and apartments
- The 261 townhouse dwellings and 250 flats counted at the 2021 Census.
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 Crace 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.
Crace
No government agency publishes a free median sale price or rent series for Crace, 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 Crace and Gungahlin
Crace
Transport
- Transport Canberra buses (bus)
- Gungahlin Drive (road)
- Barton Highway (road)
Amenities
- Crace local centre
- Gungahlin Town Centre
- Crace Grasslands Nature Reserve
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.
Compare Crace or Gungahlin with another suburb
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Request a free assessment: Crace or Gungahlin
An accredited mortgage broker can check your borrowing power against prices in Crace and Gungahlin, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.