Narrabundah vs Red HillTwo 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. Red Hill (ACT 2603) is approximately 4 km south of the Canberra CBD, on and below Red Hill. At the 2021 Census, Narrabundah had 6,455 residents with a median age of 40, and Red Hill had 3,146 residents with a median age of 42.
In both suburbs the most common occupied dwelling was separate houses. Flats and apartments made up 19% of occupied dwellings in Narrabundah and 13% in Red Hill, while 37% of Narrabundah households rented compared with 22% in Red Hill. 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 2603 · South Canberra
Red Hill
Red Hill is an inner south suburb named for its red soil, with the highest median household income and mortgage repayments recorded in these guides.
Australian Capital Territory. Approximately 4 km south of the Canberra CBD, on and below Red Hill.
Read the full Red Hill guide
What buying in Narrabundah and Red Hill 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 Red Hill.
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 Red Hill 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 Red Hill: 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 | Red Hill |
|---|---|---|
| People and households | ||
| Residents | 6,455 | 3,146 |
| Median ageAustralia 38 | 40 | 42 |
| Average household sizeAustralia 2.5 | 2.4 | 2.8 |
| Median household income, weeklyAustralia $1,746 | $2,353 | $3,938 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $440 | $500 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,392 | $3,500 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 37% | 22% |
| Owned with a mortgageAustralia 35% | 33% | 36% |
| Owned outrightAustralia 31% | 27% | 40% |
| Types of home | ||
| Separate housesAustralia 72% | 68% | 79% |
| Townhouses, terraces and semi-detachedAustralia 13% | 13% | 7% |
| Flats and apartmentsAustralia 14% | 19% | 13% |
| Homes with two bedrooms or fewer | 31% | 15% |
| Homes with four bedrooms or more | 25% | 60% |
| 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 Red Hill
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.
Red Hill
- Upgraders
- Downsizers
- Many lenders apply a lower maximum loan-to-value ratio above certain property value thresholds.
- Some lenders require two independent valuations above a value threshold.
- Individually rebuilt homes are not directly comparable, so valuations are less predictable.
- Sloping sites raise retaining, drainage and stormwater questions on inspection.
- Older houses warrant a check of the loose-fill asbestos register.
Housing stock in Narrabundah and Red Hill 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.
Red Hill
- Large detached houses
- Separate houses numbered 800 at the 2021 Census, 79.1 per cent of occupied homes.
- Four and five bedroom homes
- At the 2021 Census, 400 dwellings had four bedrooms and 207 had five or more.
- Apartments and townhouses
- The 135 flats and 74 townhouse dwellings counted at the 2021 Census.
Official sale price and rent figures for Narrabundah and Red Hill
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.
Red Hill
No government agency publishes a free median sale price or rent series for Red Hill, 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 Red Hill
Narrabundah
Transport
- Transport Canberra buses (bus)
- Canberra Avenue (road)
- Hindmarsh Drive (road)
Amenities
- Narrabundah shops
- Manuka shops
- Jerrabomberra Wetlands
Red Hill
Transport
- Transport Canberra buses (bus)
- Canberra Avenue (road)
- Mugga Way (road)
Amenities
- Red Hill Nature Reserve
- Red Hill shops
- Manuka shops
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 Red Hill with another suburb
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Request a free assessment: Narrabundah or Red Hill
An accredited mortgage broker can check your borrowing power against prices in Narrabundah and Red Hill, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.