Gungahlin’s Next Chapter: Major Developments Set to Reshape Canberra’s Northern Edge

Construction cranes are fast becoming a familiar sight across Gungahlin as several large-scale residential and mixed-use projects break ground, marking a new phase in Canberra’s north. This week, local developer Geocon began excavation on its Horizon Towers project at Gundaroo Drive, the latest in a series of high-density builds aimed at boosting housing supply in one of the ACT’s highest-growth corridors.

Why Gungahlin and Belconnen are Booming

The surge of new development comes at a critical moment for Canberra’s property market. With the city’s vacancy rate stubbornly fixed below 1% for the past six months (SQM Research recorded it at just 0.7% in June), pressure has been mounting on planners and developers to deliver more homes, particularly in suburbs popular with young families and public servants. The mix of fresh apartments, office space and expanded shopping precincts is already starting to reshape the skyline in Belconnen and Gungahlin, long regarded as Canberra’s key urban growth corridors.

Major sites are at the centre of this transformation. Along Anthony Rolfe Avenue, the "Metro One" development—slated for completion by late 2027—will add 300 apartments as well as a Woolworths Metro, medical centre and childcare facility. Belconnen’s Emu Bank has also been earmarked for a $120 million waterfront project led by Art Group, which plans to integrate retail and green space along Lake Ginninderra. Planners at Suburban Land Agency say the influx of residents and commercial tenancies is expected to bring new life, and new traffic, to both districts.

Price Pressures and the Path Ahead

Median house prices in Canberra now hover at $835,000 after a modest dip since late 2025, but unit prices are holding steady—reflecting both limited supply and sustained demand from public sector buyers. In Gungahlin, two-bedroom apartments at the recently completed Lumi Collection on Swain Street have been achieving $680,000 at auction, an uptick from 2024’s median of $630,000 for comparable stock. Auction clearance rates across the ACT are rising again, hitting 65% last week, a seven-point increase from March, according to CoreLogic’s latest data.

With population in the Gungahlin region projected to surge past 100,000 by 2028, ACT Government officials insist further infrastructure investment is in the works. The long-promised Yerrabi Pond improvements and additional light rail stations are both scheduled for planning consideration in Q4 this year, while a new $18 million public school on Horse Park Drive is also on the agenda to accommodate swelling enrolments.

Buyers eyeing off-plan apartments should pay close attention to sunset clauses and staged construction timelines. Agents report continued strong competition for existing houses in neighbourhoods like Nicholls and Casey, but warn that an influx of new apartments could slightly ease rental stress by next winter. For now, however, the rental queue is likely to remain as tight as ever in the city’s north.