Jonny Warren
57 Coranderrk Street, Reid, ACT 2612
Offers Over $2,499,000
4 2 2
Open Wednesday 16 September 5:10 pm🏛️ About This Suburb (Last Updated Date: 2026-03-13)
History, Aboriginal heritage, and the story behind the name.
Reid — Ngunnawal Country
Reid was one of Canberra's earliest suburbs, designed as part of Walter Burley Griffin's vision for a Garden City. It was developed primarily in the 1920s and 1930s to provide housing for public servants relocating to the new capital.
Today, Reid is a highly sought-after blue-chip suburb known for its wide, leafy streets, meticulously preserved brick cottages, and proximity to the Braddon precinct and CBD.
Overall Score
8.8
A premier lifestyle suburb with high barriers to entry and exceptional location value.
Name Origin
Named after Sir George Reid, the fourth Prime Minister of Australia.
Established
Gazetted 1928
Heritage Status
Much of the suburb is within the Reid Housing Precinct heritage area.
Green Space
Home to Glebe Park, a major 4-hectare urban parkland.
Landmark
Features St John the Baptist Church, the oldest church in the ACT.
📊 Scorecard
12 key dimensions scored 0–10. Each score includes a one-line explanation.
Market Momentum
7.5
Steady demand for rare heritage stock keeps prices resilient despite broader market fluctuations.
Amenity
9.8
Unrivalled access to CBD shopping, dining, and the Lake Burley Griffin foreshore.
Schools
8.5
Zoned for high-performing schools including Ainslie School and Campbell High.
Transport
9.2
Walking distance to the City Interchange and Light Rail terminus.
Risk Profile
6.5
Low economic risk but high regulatory risk due to heritage constraints.
Liveability
9.5
Exceptional leafy environment with high-quality public spaces and quiet streets.
Demographics
9.0
Affluent population of professionals, academics, and long-term residents.
Rental Demand
8.2
High demand from executive tenants and ANU staff, though stock is limited.
Growth Potential
7.0
Limited by lack of new land, but scarcity of heritage homes ensures long-term value.
Affordability
1.5
One of Canberra's most expensive suburbs with a very high entry price point.
Crime & Safety
8.0
Generally safe, though proximity to the CBD brings some opportunistic property crime.
Walkability
9.7
A 'Walker's Paradise' where most daily errands do not require a car.
⚡ Quick Snapshot
Key metrics at a glance, plus your top advantages and watch-outs.
Median House
$2,450,000
Projected March 2026
Median Unit
$685,000
Includes fringe apartments
12mo Growth
4.2%
Steady capital appreciation
Ownership
62%
High owner-occupancy in houses
Education
Ainslie Primary
Highly regarded local school
Walk Score
92/100
Very high walkability
✅ Key Advantages
- Unbeatable proximity to the Canberra CBD and Braddon dining precinct.
- Unique historical character with protected streetscapes and mature trees.
- Large block sizes for an inner-city location (typically 800sqm+).
- High resale value due to extreme scarcity of available houses.
- Excellent school catchment zones for both primary and secondary education.
⚠️ Key Watch-Outs
- Extremely restrictive heritage rules on windows, roofing, and extensions.
- High maintenance costs associated with 1920s-era brick and timber construction.
- Limited off-street parking and narrow driveways in original designs.
- Significant price premium compared to neighbouring Inner North suburbs.
- Occasional noise and foot traffic on the suburb fringe near the CBD.
🏘️ Suburb Overview
Character, property mix, price range and what drives value here.
🏙️ Character
Heritage Professional
How this suburb feels day-to-day.
🏠 Property Types
Historic detached houses and low-to-mid rise apartments on the periphery.
Dominant dwelling stock.
💰 Price Range
$650k (Units) to $3.5m+ (Premium Houses)
Typical entry to ceiling.
💡 Why It Matters
Reid is the 'Paddington' or 'East Melbourne' of Canberra. It offers a low-density, high-prestige lifestyle that cannot be replicated due to its heritage status, making it a defensive asset for long-term wealth.
💰 Price Guide & Market Trends
Medians, rental market, 5-year history and property split.
🏠 House Median
$2,450,000
$2.1m – $3.8m
🏢 Unit Median
$685,000
$550k – $950k
📈 Price Trend
+4.2% past 12 months
12-month movement
🔑 Weekly Rents
Houses $950pw, Units $620pw
Current asking rents
📉 5-Year Price History
🏘️ Property Type Split
The high unit percentage is skewed by modern developments on the suburb's edge (Constitution Ave), while the core remains low-density heritage housing.
🎯 Affordability
How this suburb compares to metro and state medians.
🏙️ vs Metro Average
140% above Canberra house median
Price comparison
📋 Income Ratio
13.2x average household income
Median price ÷ median income
💳 Gross Yield
2.8% gross for houses
Estimated rental yield
More AffordableModeratePremium
Entry levelMid rangePremium
Reid is one of the least affordable suburbs in the ACT. Buyers are paying for land value and historical prestige rather than modern square footage.
🔥 Rental Demand
Vacancy rates, demand pressure, tenant profile, and investor outlook.
📊 Vacancy Rate
1.4%
Lower = tighter market
⏱️ Days to Lease
18 days
Avg time on market
📈 Rent Growth p.a.
+5.5%
Annual rental increase
Demand Level
High
👤 Tenant Profile
Diplomats, senior public servants, and ANU academics.
💼 Investor Outlook
Low yields but high capital stability. The best prospects are well-maintained units or apartments on the CBD fringe which attract high-income professionals.
🚀 Growth Potential
Historical capital growth, infrastructure pipeline, and 5-year outlook.
+4.2%
1-Year Growth
+12.5% cumulative
3-Year Growth
+32% cumulative
5-Year Growth
📍 Growth Drivers
- Finite supply of heritage-listed detached homes.
- Ongoing 'City to the Lake' urban renewal projects nearby.
- Continued desirability of walkable, inner-city lifestyles.
- High barriers to entry preventing oversupply of houses.
⛔ Headwinds
- High interest rates impacting the $2m+ buyer pool.
- Increasing costs of heritage-compliant renovations.
- Land tax burdens for high-value ACT properties.
🔮 5-Year Outlook
Reid is expected to remain a top-tier performer. While price growth may be slower than outer growth corridors, its downside protection is superior due to land scarcity and prestige.
🛡️ Crime & Safety
Safety index, trend comparison, and what to check locally.
8
Safety Score
Above Average
📉 Trend
Stable
vs last 12 months
🏙️ vs Metro Average
10% below ACT average for violent crime; slightly higher for petty theft.
Relative comparison
Risk Categories
Burglary: Medium
Property Damage: Low
Personal Safety: High
📋 What to Check Locally
Check for secure fencing and alarm systems, as the proximity to the CBD and Glebe Park can lead to opportunistic foot traffic.
⚠️ Risk Profile
Natural hazards and planning risks to verify before buying.
📋 Summary
The primary risks are regulatory and structural rather than environmental.
🌊 Flood Risk
Low risk; well-established drainage infrastructure.
🔥 Bushfire Risk
Very low risk; fully urbanised inner-city location.
🏦 Insurance Impact
Higher premiums may apply for heritage-listed structures due to specialized repair costs.
🗺️ Planning & Zoning
Development controls, overlays, and what's changing locally.
📐 Typical Zoning
RZ1 Suburban (Heritage Overlay)
🔲 Overlays
Heritage Precinct Overlay, Tree Protection Zone
🏗️ Development Hotspots
Constitution Avenue corridor (Mixed-use/Apartments)
The RZ1 zoning in the core of Reid prevents subdivision, ensuring the suburb's low-density character is preserved indefinitely.
🌳 Liveability
Day-to-day experience — transport, amenity, green space, schools and healthcare.
🚌 Transport
Excellent; walking distance to light rail and major bus hubs.
🛍️ Amenity & Retail
World-class; adjacent to Canberra Centre and Braddon's Lonsdale Street.
🌲 Parks & Recreation
Superior; Glebe Park and Reid Oval provide significant recreation space.
🏫 Schools
Strong; Ainslie School is one of Canberra's most historic and sought-after primaries.
🏥 Healthcare
High; close proximity to Canberra Hospital (15 mins) and local private clinics.
👥 Demographics
Who lives here — income, age, ownership, and education levels.
An established, highly educated community with a mix of older 'empty nesters' and young professional families.
💵 Median Income
$145,000 pa (Household)
🏠 Ownership
62% owner-occupied (Houses), 38% renting (mostly Units)
🎂 Age Profile
Median age 38
🎓 Education
65% have a Bachelor degree or higher
📊 Age Distribution
The high education and income levels support local property prices and ensure a stable, community-focused neighborhood.
🏗️ Major Developments
Infrastructure pipeline and what it means for values and liveability.
📋 Overview
Focus is on the 'City to the Lake' transition and the revitalisation of the CBD edge.
📈 Positive Impacts
- Improved pedestrian links to Lake Burley Griffin.
- Increased retail and dining options on the suburb's western fringe.
- Enhanced public transport frequency via the Light Rail network.
📉 Negative Impacts
- Increased traffic congestion on Coranderrk Street.
- Potential for overshadowing from new high-rise developments on the CBD border.
🗺️ Nearby Suburb Comparison
How neighbouring suburbs stack up on price, lifestyle and who they suit.
📍Braddon
Position
North-West
Price
Units cheaper, Houses comparable but rarer
Lifestyle
High-energy, nightlife-focused, much higher density.
Best for
Young professionals and socialites.
📍Campbell
Position
East
Price
Similar house prices
Lifestyle
More 1960s architecture, closer to the lake and military precinct.
Best for
Families and defense personnel.
📍Ainslie
Position
North
Price
10-15% more affordable
Lifestyle
More 'bohemian' feel, closer to Mt Ainslie nature trails.
Best for
Established families and nature lovers.
📍Turner
Position
West
Price
20% more affordable
Lifestyle
More mid-century apartments and leafy but less 'prestigious' streets.
Best for
Investors and first home buyers.
🔍 Similar Suburbs
Suburbs with a comparable profile — useful if this one is over budget or sold up.
Haberfield
NSW
8.5/10
Both are strictly protected garden suburbs with significant heritage brick housing.
East Melbourne
VIC
9.2/10
Prestigious, leafy enclave directly adjacent to the state capital's CBD.
Subiaco
WA
8.7/10
Combines historic residential character with high-end urban amenity.
Ascot
QLD
8.9/10
High-prestige, established suburb with large blocks and historic significance.
💬 Community Sentiment
Aggregated themes from resident discussions, forums and local feedback.
📊 Overall Community Sentiment
Residents value the suburb's quiet, historic atmosphere and the ability to walk to work or dinner in the city. There is a strong sense of pride in property maintenance.
★★★★★
Heritage Character
Living in a piece of history is a privilege; the birds and the old trees make you forget you're 5 minutes from the city centre.
Peaceful
Beautiful
★★★★☆
Commuting
I haven't used my car for a commute in three years. Everything is walkable, though the heritage rules made my kitchen reno a headache.
Convenient
Restrictive
★★★★★
Schools & Parks
Ainslie School is fantastic and Glebe Park is our second backyard. It's the best place in Canberra to raise kids.
Family-friendly
Safe
★★★★☆
Capital Growth
The yields aren't the best, but the land value in Reid is like gold. It's a safe haven for capital.
Stable
Low Yield
★★★☆☆
Maintenance
The houses are gorgeous but they require constant work. Be prepared for high upkeep costs on these old double-brick homes.
High Maintenance
Charming
★★★★☆
Location
Perfect for being near ANU and the city, but finding a rental here is incredibly competitive.
Central
Competitive
💡 Tailored Advice
Personalised guidance for every role in this market.
🧑💼 Buyer Strategy
- Engage a heritage consultant before making an offer on a house.
- Check the ACT Heritage Register for specific requirements on your target property.
- Prioritise properties with existing sympathetic extensions to avoid the planning red tape.
- Factor in a 'heritage premium' of 10-15% over similar-sized homes in non-heritage areas.
- Look for properties on the 'quiet' streets away from Coranderrk and Ballumbir Streets.
- Verify the condition of original plumbing and electrical systems.
❓ Questions to Ask the Agent
- Is this property individually heritage-listed or just part of the precinct?
- What specific external elements are protected (e.g., windows, fences, roof tiles)?
- Are there any approved plans or DAs currently in place for extensions?
- What is the Energy Efficiency Rating (EER), and can it be improved under heritage rules?
- Has the property been tested for rising damp or structural issues common in this era?
- Are there any easements or tree protection orders on the block?
- What is the history of the property's land tax and rates?
- How does the heritage overlay affect the installation of solar panels or air conditioning?
🏷️ Seller Strategy
- Highlight any original features that have been meticulously restored.
- Provide a pre-sale building inspection that specifically addresses heritage compliance.
- Market the lifestyle benefits of being 'car-free' in the heart of the city.
- Use high-quality twilight photography to capture the suburb's leafy character.
- Target high-income professionals and interstate relocators.
📣 Positioning Tips
Position the property as a 'rare piece of Canberra's history' that offers a permanent hedge against urban sprawl. Emphasize the walkability and the prestige of the Reid address.
💼 Investment Case
Reid is a capital preservation play rather than a high-yield play.
⚠️ Investment Risks
High entry costs, low rental yields, and high maintenance/compliance costs.
📈 Action Plan
- Focus on 2-bedroom apartments on the fringe for better yields.
- Ensure the property has a high energy efficiency rating (EER) or potential to improve it within heritage rules.
- Target the executive rental market.
- Hold for a minimum of 7-10 years to offset entry costs.
🔑 Renter Tips
- Set up alerts for the 2612 postcode specifically.
- Have your application ready; properties often lease after the first viewing.
- Be prepared for older heating/cooling systems in heritage houses.
🏘️ What Renters Love Here
Unmatched lifestyle and proximity to work/study.
⚠️ Renter Watch-Outs
Older homes can be drafty and expensive to heat in Canberra winters.
🏢 Landlord Strategy
- Maintain the gardens to a high standard to attract premium tenants.
- Consider long-term leases for diplomatic or academic tenants.
- Regularly audit for heritage compliance to avoid government fines.
📋 Compliance & Management
Strict adherence to the ACT Heritage Act 2004 is mandatory for any external works.
🤝 Agent Insights
- Stock turnover in Reid is among the lowest in the ACT.
- Buyers are often highly informed about heritage restrictions.
- The 'Glebe Park' side of Reid typically commands a higher premium.
🎯 Marketing Angles
The 'Garden City' legacy, the 'Walk to Work' lifestyle, and 'Timeless Architectural Integrity'.
👤 Target Buyer Profile
Affluent professionals, heritage enthusiasts, and high-net-worth downsizers.
✅ Due Diligence Checklist
Tap items to tick them off. Don't skip these before signing anything.
✓
Search the ACT Heritage Register for the property address.
✓
Review the Reid Housing Precinct Heritage Guidelines.
✓
Obtain a detailed building and pest inspection focusing on 1920s brickwork.
✓
Check the ACT Planning 'Territory Plan' for RZ1 restrictions.
✓
Verify the presence of asbestos in any mid-century extensions.
✓
Assess the condition of the terracotta roof tiles and availability of replacements.
✓
Confirm the school priority enrollment area via the ACT Education Directorate.
✓
Review the Conveyancing File for any outstanding heritage compliance orders.
✓
Check for any significant trees protected under the Tree Protection Act 2005.
✓
Evaluate the impact of nearby CBD developments on future noise and light.
✓
Consult with a mortgage broker regarding lending limits for high-value heritage assets.
✓
Investigate the cost of specialized heritage insurance.
📚 Government Sources & Disclaimer
Official council and government links only. Always verify independently before any property decision.
🔗 planning.act.gov.au
🔗 environment.act.gov.au
🔗 abs.gov.au
🔗 education.act.gov.au
🔗 transport.act.gov.au
⚠️ Important Disclaimer
This report is based on data available as of 2026-03-13. It is intended for informational purposes only and does not constitute financial, legal, or real estate advice. Buyers should conduct their own independent enquiries and consult with professionals before making any property purchase.
