Forrest Property Market & Buyers Agents 2026

Forrest stands as one of Canberra's, and indeed Australia's, most exclusive and expensive property markets. The median house price currently sits at a formidable $4.1 million, reflecting a significant annual growth of 10.8%. This trajectory underscores the suburb's resilience and enduring appeal among the nation's elite. The market is characterised by low transaction volumes, with only 15-16 house sales in the past year, indicating a tightly held and supply-constrained environment. This scarcity, coupled with persistent demand from high-income earners, diplomats, and senior government officials drawn to its proximity to Parliament House, underpins the suburb's strong capital appreciation.

The unit market presents a more accessible, albeit still premium, entry point with a median price of $740,000. However, the unit segment has recently experienced a notable downturn, with prices falling by 12.1% over the last year. This contrasts sharply with the housing market's performance and may reflect broader trends in higher-density living or a shift in buyer preference within the suburb. Days on market for houses are extended, averaging around 132 days, which suggests that despite strong demand, buyers are discerning and transactions are complex at this price point. In contrast, units spend an average of 74 days on the market. Rental yields are modest, sitting at 2.0% for houses and a healthier 4.7% for units, which is typical for a blue-chip area where capital growth is the primary driver of returns. The demographic profile of Forrest is dominated by high-income, childless couples in professional occupations, reinforcing its status as a hub for Australia's political and administrative leaders.

Established in 1926 and named after Sir John Forrest, this inner-south suburb is one of Canberra's oldest and most distinguished. Originally named Blandfordia, it was designed according to Garden City principles, resulting in its signature leafy, geometric, and circular street patterns. The suburb's character is one of quiet prestige, with grand, established homes on spacious blocks, many of which house foreign embassies and high commissions.

Forrest Primary School, located on National Circuit, is a highly regarded government school serving the local community. The suburb's proximity to Capital Hill means it is exceptionally well-connected. While it is a tranquil residential area, it is serviced by Transport Canberra bus routes, including the 57 and 59, which provide direct access to the city centre and major national institutions in under 10 minutes. Canberra's extensive network of cycle paths also runs through and around the suburb, making for a pleasant commute or recreational ride.

While Forrest itself is primarily residential, it borders the vibrant Manuka shopping precinct, offering residents easy access to boutique shops, cafes, and fine dining restaurants. The nearby Kingston and Griffith shops further expand these options. The suburb is dotted with seven parks, which cover about 10% of its total area, providing ample green space for recreation. Its location between Capital Hill and Red Hill Reserve offers a unique blend of urban convenience and natural beauty, just minutes from the shores of Lake Burley Griffin.