Hackett Property Prices Set to Boom: Canberra Rezoning

Hackett has long been Canberra's forgotten middle child. Wedged between the established appeal of Dickson and the university sprawl of O'Connor, the inner-north suburb rarely registers on buyer radars or property journalist notepads. But that quiet anonymity is about to end.

The ACT Government's latest district planning review is preparing to rezone significant portions of Hackett for medium-density residential development—a shift that could transform the suburb from a sleepy pocket of 1970s weatherboard homes into a vibrant, mixed-use neighbourhood. Current median house prices hover around $715,000, roughly $120,000 below the ACT median, creating what local agents describe as a genuine value gap for investors betting on uplift.

The rezoning is already generating behind-the-scenes activity. Property scouts familiar with ACT planning cycles point to Hackett's strategic location: a 10-minute cycle to the city via the Bicentennial Trail, proximity to the Dickson shops precinct, and direct access to Gungahlin via Antill Street. The suburb is also minutes from Canberra Hospital's proposed redevelopment precinct, a major drawcard for service-worker housing demand.

"Overlooked suburbs typically offer the best risk-reward profiles," says one local property analyst, noting that recent medium-density schemes in Belconnen's Macgregor and Gungahlin's Ngunnawal have delivered double-digit capital growth within five years of rezoning announcements.

Hackett's physical infrastructure supports intensification. The suburb already has reasonable public transport connectivity via the Dickson bus interchange, and vacant or underutilised industrial land along Fairfax Street presents development opportunity. Local schools—including Hackett Primary—serve the catchment, though capacity constraints may influence timing of residential growth.

Canberra's broader property context—with median prices falling for the first time in years as buyers digest rate rises and policy shifts—paradoxically favours suburbs like Hackett. Investors hunting for entry-level land banks or medium-term capital appreciation are increasingly priced out of Gungahlin's established hotspots. Hackett offers accessible acquisition cost without sacrificing proximity to urban amenity.

The formal rezoning decision isn't expected before late 2026 or early 2027, but the planning consultation phase is already live. Local residents have mixed views: some embrace infill development, others worry about neighbourhood character loss. That tension is typical for suburbs on the cusp of transformation.

For investors with patience and conviction in Canberra's ongoing inner-north densification, Hackett represents the kind of overlooked asset that rarely stays overlooked for long.

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