Narrabundah vs PhillipTwo Canberra suburbs compared for a home loan
Narrabundah (ACT 2604) is approximately 5 km south-east of the Canberra CBD, in the eastern inner south. Phillip (ACT 2606) is approximately 8 km south of the Canberra CBD, at the Woden Town Centre. At the 2021 Census, Narrabundah had 6,455 residents with a median age of 40, and Phillip had 5,197 residents with a median age of 32.
The most common occupied dwelling was separate houses in Narrabundah and flats and apartments in Phillip. Flats and apartments made up 19% of occupied dwellings in Narrabundah and 67% in Phillip, while 37% of Narrabundah households rented compared with 50% in Phillip. 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 2604 · South Canberra
Narrabundah
Narrabundah is an inner south suburb gazetted in 1928 whose Ngunnawal name is believed to mean the little hawk, and the most affordable of the inner south.
Australian Capital Territory. Approximately 5 km south-east of the Canberra CBD, in the eastern inner south.
Read the full Narrabundah guideACT 2606 · Woden Valley
Phillip
Phillip contains the Woden Town Centre and is almost entirely apartments and townhouses, with only three separate houses counted at the 2021 Census.
Australian Capital Territory. Approximately 8 km south of the Canberra CBD, at the Woden Town Centre.
Read the full Phillip guide
What buying in Narrabundah and Phillip 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 Narrabundah and Phillip.
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 Narrabundah to see the repayment, transfer duty and upfront cash.
Enter a price for Phillip 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.
Narrabundah and Phillip: 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 | Narrabundah | Phillip |
|---|---|---|
| People and households | ||
| Residents | 6,455 | 5,197 |
| Median ageAustralia 38 | 40 | 32 |
| Average household sizeAustralia 2.5 | 2.4 | 1.9 |
| Median household income, weeklyAustralia $1,746 | $2,353 | $2,075 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $440 | $440 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,392 | $1,608 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 37% | 50% |
| Owned with a mortgageAustralia 35% | 33% | 35% |
| Owned outrightAustralia 31% | 27% | 14% |
| Types of home | ||
| Separate housesAustralia 72% | 68% | 0% |
| Townhouses, terraces and semi-detachedAustralia 13% | 13% | 33% |
| Flats and apartmentsAustralia 14% | 19% | 67% |
| Homes with two bedrooms or fewer | 31% | 81% |
| Homes with four bedrooms or more | 25% | 1% |
| Dwellings unoccupied on Census night | 9% | 10% |
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 Narrabundah and Phillip
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.
Narrabundah
- First home buyers
- Investors
- Upgraders
- Older houses warrant a check of the loose-fill asbestos register before an offer.
- A cleared or recently built block may have been part of the buyback and demolition scheme.
- Title is a Crown lease with a purpose clause, not freehold, so permitted use must be confirmed.
- The Fyshwick commercial and light industrial area lies immediately east.
- Body corporate levies on the attached stock are counted in serviceability assessments.
Phillip
- Investors
- First home buyers
- Downsizers
- Single-development exposure limits bind readily in a town centre of large apartment buildings.
- One and two bedroom dwellings can fall below lenders' minimum internal floor areas.
- Body corporate levies are counted in serviceability assessments and reduce borrowing power.
- Renting at 49.9 per cent means many purchases are assessed as investment lending.
- Further apartment buildings in planning or construction can change outlook and aspect.
Housing stock in Narrabundah and Phillip compared
Narrabundah
- Mid-century detached houses
- Separate houses numbered 1,669 at the 2021 Census, 68.2 per cent of occupied homes.
- Apartments
- The 467 flats counted at the 2021 Census, 19.1 per cent of occupied homes.
- Three bedroom homes
- At 1,042 dwellings, the most common size recorded at the 2021 Census.
Phillip
- Apartments
- The 1,757 flats counted at the 2021 Census, 67.0 per cent of occupied homes.
- Townhouses
- At 860 dwellings, or 32.8 per cent of occupied homes at the 2021 Census.
- One and two bedroom dwellings
- At the 2021 Census, 1,286 dwellings had two bedrooms and 831 had one.
Official sale price and rent figures for Narrabundah and Phillip
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.
Narrabundah
No government agency publishes a free median sale price or rent series for Narrabundah, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Phillip
No government agency publishes a free median sale price or rent series for Phillip, 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 Narrabundah and Phillip
Narrabundah
Transport
- Transport Canberra buses (bus)
- Canberra Avenue (road)
- Hindmarsh Drive (road)
Amenities
- Narrabundah shops
- Manuka shops
- Jerrabomberra Wetlands
Phillip
Transport
- Woden bus interchange (bus)
- Hindmarsh Drive (road)
- Yarra Glen (road)
Amenities
- Westfield Woden
- Eddison Park
- Phillip Swimming and Ice Skating 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 Narrabundah or Phillip with another suburb
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Request a free assessment: Narrabundah or Phillip
An accredited mortgage broker can check your borrowing power against prices in Narrabundah and Phillip, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.