Developed in the late 1960s as one of the foundation suburbs of the Belconnen district. It was designed with a focus on generous block sizes and integrated green spaces to support the post-war family boom.
Today, Macquarie is a sought-after 'inner-north' Belconnen suburb undergoing significant renewal as young professionals renovate original 1970s homes.
- Exceptional local shopping and dining at the Jamison Centre.
- Large block sizes (typically 700sqm+) with RZ2 zoning potential.
- Highly regarded local primary school within walking distance for most.
- Proximity to major employment hubs: Belconnen CBD, Calvary Hospital, and UC.
- Mature, leafy streetscapes providing excellent natural shade and privacy.
- Presence of 'Mr Fluffy' (loose-fill asbestos) legacy sites in the suburb.
- High entry price point compared to neighboring Page or Scullin.
- Significant traffic congestion around Jamison Centre during peak hours.
- Strict ACT heritage or planning guidelines on specific older 'ex-gov' builds.
- Increasing density due to RZ2 redevelopment changing street character.
How this suburb feels day-to-day.
Dominant dwelling stock.
Typical entry to ceiling.
Macquarie represents the 'blue-chip' end of Belconnen. Its RZ2 zoning makes it a dual-target for both lifestyle buyers and small-scale developers, ensuring long-term land value resilience.
$980k – $1.75m
$480k – $850k
12-month movement
Current asking rents
The price gap between unrenovated and renovated homes is widening, reflecting the high value placed on 'move-in ready' properties in this premium pocket.
Price comparison
Median price ÷ median income
Estimated rental yield
Macquarie is becoming increasingly difficult for average earners to enter without significant equity, pushing many towards units or neighboring suburbs.
Lower = tighter market
Avg time on market
Annual rental increase
Healthcare workers from Calvary, academics from UC, and young families.
Strong capital growth prospects and low vacancy rates make it a safe 'land bank' play, especially for RZ2 blocks.
- RZ2 zoning allowing for high-value dual-occupancy developments.
- Continued gentrification as original 1970s owners downsize.
- Proximity to the expanding Belconnen Town Centre and hospital precinct.
- High demand for the Macquarie Primary School catchment area.
- High interest rate environment impacting borrowing capacity for $1m+ homes.
- Increased supply of townhouses potentially diluting unit-style growth.
- Rising construction costs for those looking to utilize RZ2 zoning.
Expect steady outperformance of the broader Belconnen market, driven by its status as a 'destination' suburb for families and the ongoing conversion of single dwellings into dual-occupancies.
vs last 12 months
Relative comparison
Check lighting and security if purchasing near the Jamison Centre commercial car parks where opportunistic theft can occur.
The primary risks are environmental (legacy asbestos) and financial (high entry cost and development complexity).
Very low risk; suburb is well-elevated with modern drainage infrastructure.
Low risk; fully surrounded by urban development, though proximity to Aranda bushland should be noted.
Generally standard, but premiums may be affected if a property has a history of loose-fill asbestos remediation.
Multi-unit housing development codes apply to RZ2 areas.
Streets immediately surrounding the Jamison Centre and Macquarie Primary.
RZ2 zoning is a significant value-add, allowing for two dwellings on a single block, subject to ACT planning approvals.
Excellent bus connectivity via the R3 and R4 rapid routes; easy access to Belconnen Way.
Top-tier; Jamison Centre provides supermarkets, specialty shops, and a popular weekly market.
Abundant local playgrounds and proximity to the Big Splash Waterpark and Cook neighborhood ovals.
Macquarie Primary is a standout; also zoned for Canberra High School.
Minutes away from North Canberra Hospital (formerly Calvary) and various specialist clinics.
A professional and educated demographic with a high percentage of multi-generational households.
The high owner-occupancy rate and professional demographic support stable property prices and well-maintained streetscapes.
Ongoing medium-density infill and potential future upgrades to the Jamison Centre precinct.
- Increased local housing diversity through dual-occupancy.
- Modernization of older retail spaces at Jamison.
- Improved public transport frequency on major corridors.
- Loss of backyard space and 'leafy' feel in some RZ2 streets.
- Increased street parking pressure near new developments.
Residents love the 'village' feel of the Jamison Centre and the suburb's central location. It is widely considered one of the best places in Belconnen to raise a family.
Walking to Jamison for coffee on Saturday mornings is a ritual; the community vibe here is unmatched in Belconnen.
The RZ2 zoning was a big draw for us. We bought an older house with plans to build a secondary residence later.
Everything I need is at my doorstep. I rarely need to drive to the City or the mall.
Macquarie Primary has been fantastic for our kids; the school community is very active and welcoming.
It's a great place to live but rents are getting quite steep for what are often older, uninsulated houses.
I worry about the new dual-occupancies taking away the privacy of our backyards, but I suppose that's progress.
- Prioritize RZ2 zoned blocks for long-term value, even if you don't plan to develop immediately.
- Always check the ACT Loose-fill Asbestos (Mr Fluffy) register before making an offer.
- Look for properties with updated double-glazing; original 1970s homes in Macquarie can be very cold in winter.
- Focus on the Macquarie Primary catchment if you have young children, as it significantly aids resale value.
- Attend a few auctions locally to understand the 'Jamison premium'—properties near the shops often go for 10% more.
- Is this property on the Loose-fill Asbestos (Mr Fluffy) register or has it been remediated?
- Does the block meet the minimum requirements for a dual-occupancy development under RZ2?
- What is the current EER (Energy Efficiency Rating) and has the insulation been upgraded?
- Are there any known easements that would affect building a second dwelling?
- Is the property within the priority enrollment area for Macquarie Primary School?
- Have there been any recent RZ2 developments in this immediate street?
- What are the typical settlement terms the vendors are looking for?
- Highlight RZ2 potential in marketing materials to attract both families and small developers.
- Minor cosmetic renovations to kitchens and bathrooms yield high returns here due to the professional demographic.
- Ensure gardens are tidy; the 'leafy' character is a major selling point for Macquarie.
- Provide a clear building and pest report upfront to streamline the auction process.
- Position the property's proximity to Jamison Centre as a key lifestyle benefit.
Focus on the 'Lifestyle and Land' angle. Emphasize the rare combination of a large, developable block within walking distance of one of Canberra's best local hubs.
High-income tenant pool and RZ2 development upside.
Higher entry costs and potential for legislative changes to ACT land taxes.
- Target RZ2 blocks over 700sqm.
- Consider a 'buy and hold' strategy with a minor refresh to maximize rent.
- Monitor ACT planning changes regarding unit titles for dual-occupancies.
- Verify the asbestos status of any property built before 1985.
- Be ready to move fast; family homes in this catchment lease very quickly.
- Check the energy efficiency rating (EER); older homes can have high heating costs.
- Look for properties with reverse-cycle air conditioning.
Quiet streets, great schools, and amazing coffee shops nearby.
Older homes may have poor insulation and dated interiors.
- Invest in energy efficiency upgrades to attract long-term professional tenants.
- Regularly maintain the large gardens typical of the area to preserve property value.
- Consider long-term leases for families tied to the school year.
Ensure compliance with ACT's minimum ceiling insulation standards (mandatory as of 2023/24).
- The 'Jamison factor' is the biggest driver of local price premiums.
- Stock levels are typically low as residents tend to stay for 10+ years.
- Dual-occupancy potential is the primary interest for 40% of house inquiries.
The 'Perfect Family Pocket' meets 'Smart Development Potential'.
Upsizing families and local 'mum and dad' developers.
This report is based on data available as of March 2026 and is intended for informational purposes only. It does not constitute financial or legal advice. Buyers should conduct their own independent investigations and consult with qualified professionals before making any property purchase.
