Nicholls vs PalmerstonTwo Canberra suburbs compared for a home loan
Nicholls (ACT 2913) is approximately 12 km north-west of the Canberra city centre, around the Gold Creek precinct. Palmerston (ACT 2913) is approximately 10 km north of the Canberra city centre, in central Gungahlin. At the 2021 Census, Nicholls had 6,680 residents with a median age of 44, and Palmerston had 5,579 residents with a median age of 36.
In both suburbs the most common occupied dwelling was separate houses. Flats and apartments made up 0% of occupied dwellings in Nicholls and 0% in Palmerston, while 15% of Nicholls households rented compared with 28% in Palmerston. 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 2913 · Gungahlin
Nicholls
Nicholls is the most established Gungahlin suburb, 89.3 per cent detached houses with no apartments, where only 14.7 per cent of households rent.
Australian Capital Territory. Approximately 12 km north-west of the Canberra city centre, around the Gold Creek precinct.
Read the full Nicholls guideACT 2913 · Gungahlin
Palmerston
Palmerston was gazetted in 1991 as one of the first Gungahlin suburbs, with no apartments at all and townhouses making up 39.6 per cent of homes.
Australian Capital Territory. Approximately 10 km north of the Canberra city centre, in central Gungahlin.
Read the full Palmerston guide
What buying in Nicholls and Palmerston 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 Nicholls and Palmerston.
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 Nicholls to see the repayment, transfer duty and upfront cash.
Enter a price for Palmerston 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.
Nicholls and Palmerston: 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 | Nicholls | Palmerston |
|---|---|---|
| People and households | ||
| Residents | 6,680 | 5,579 |
| Median ageAustralia 38 | 44 | 36 |
| Average household sizeAustralia 2.5 | 2.9 | 2.6 |
| Median household income, weeklyAustralia $1,746 | $3,134 | $2,316 |
| Housing costs at the 2021 Census | ||
| Median rent, weeklyAustralia $375 | $502 | $450 |
| Median mortgage repayment, monthlyAustralia $1,863 | $2,300 | $1,940 |
| Who owns and who rents | ||
| Households rentingAustralia 31% | 15% | 28% |
| Owned with a mortgageAustralia 35% | 43% | 42% |
| Owned outrightAustralia 31% | 41% | 28% |
| Types of home | ||
| Separate housesAustralia 72% | 89% | 60% |
| Townhouses, terraces and semi-detachedAustralia 13% | 10% | 40% |
| Flats and apartmentsAustralia 14% | 0% | 0% |
| Homes with two bedrooms or fewer | 3% | 14% |
| Homes with four bedrooms or more | 70% | 38% |
| Dwellings unoccupied on Census night | 4% | 4% |
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 Nicholls and Palmerston
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.
Nicholls
- Upgraders
- Downsizers
- Investors
- Only 14.7 per cent of households rented, so the tenant pool is small for investors.
- A very large home may have fewer close comparable sales for valuation.
- Density potential should not be assumed from development elsewhere in Gungahlin.
- Estate design guidelines governing facade and scale may still run with the land.
- The suburb postdates the loose-fill asbestos installation period entirely.
Palmerston
- First home buyers
- Upgraders
- Investors
- Single-development exposure limits matter where 808 townhouses sit in 2,038 dwellings.
- Complexes built in the early 1990s warrant close attention to sinking fund adequacy.
- A special levy for major works is a real possibility at this stage of a complex's life.
- Estate design guidelines from 1991 may still run with the land.
- The suburb postdates the loose-fill asbestos installation period entirely.
Housing stock in Nicholls and Palmerston compared
Nicholls
- Large detached houses
- Separate houses numbered 2,033 at the 2021 Census, 89.3 per cent of occupied homes.
- Four and five bedroom homes
- At the 2021 Census, 1,136 dwellings had four bedrooms and 446 had five or more.
- Townhouses
- The 237 semi-detached or townhouse dwellings counted at the 2021 Census, with no apartments.
Palmerston
- Detached houses from the early 1990s
- Separate houses numbered 1,226 at the 2021 Census, 60.2 per cent of occupied homes.
- Townhouses
- At 808 dwellings, or 39.6 per cent of occupied homes, more than triple the national share.
- No apartments
- No flats or apartments were counted at the 2021 Census.
Official sale price and rent figures for Nicholls and Palmerston
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.
Nicholls
No government agency publishes a free median sale price or rent series for Nicholls, so none is shown. A broker can supply recent comparable sales for a specific property as part of a free assessment.
Palmerston
No government agency publishes a free median sale price or rent series for Palmerston, 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 Nicholls and Palmerston
Nicholls
Transport
- Transport Canberra buses (bus)
- Gungahlin Drive (road)
- Barton Highway (road)
Amenities
- Gold Creek precinct
- Gungahlin Town Centre
- Nicholls local shops
Palmerston
Transport
- Transport Canberra buses (bus)
- Gungahlin Drive (road)
Amenities
- Palmerston local centre
- Gungahlin Town Centre
- Gungahlin Pond
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 Nicholls or Palmerston with another suburb
Change either suburb, or add a third.
Related comparisons
Request a free assessment: Nicholls or Palmerston
An accredited mortgage broker can check your borrowing power against prices in Nicholls and Palmerston, and explain how lenders treat the homes you are considering. The assessment is free of charge and carries no obligation.