Property values in the ACT have declined in the two years since the interest rate rises began, but a handful of suburbs have bucked the trend.
Home values in five Canberra suburbs are at an all-time high, despite 13 rate rises since 2022.
Houses in one suburb have gained $184,000 in value in the past two years, analysis by property data firm CoreLogic found.
Values had recently begun rising again in Canberra, prices were still lower compared to April 2022.
Across the territory, dwelling values have fallen 6 per cent since the rate rises began, off the back of 40 per cent growth in the two years prior.
The median dwelling value - which includes houses and units - was about $848,000 in April 2024, down from $902,000 in April 2022.
ACT home values hit hard by rate rises
The data showed property values in 88 per cent of ACT suburbs had fallen since the first rate hike in April 2022.
In comparison, 38 per cent of suburbs nationally recorded a decline in dwelling values since the rate hike cycle began.
CoreLogic research director Tim Lawless said Canberra was among the hardest hit capital cities.
"Hobart and Canberra were buoyant with housing activity during the height of the pandemic but they've since faced a rise in listings, affordability constraints, and subdued demographic conditions such as negative interstate migration levels," Mr Lawless said.
Some suburbs at an all-time high
But property prices had hit record highs in some suburbs.
Taylor in the Gungahlin district recorded a massive 20 per cent rise in values in two years.
House values jumped from about $918,000 before the interest rate rises to $1,102,000 in April 2024.
Recent high-end sales had contributed to the growth including 21 Ambler View, which sold for $1.61 million in April.
Selling agent Alvin Nappilly of Confidence Real Estate said the tight-knit community was drawing buyers to Taylor.
"There is this strong family neighbourhood feel about Taylor, which is actually driving people there," he said.
"It's got nice open spaces, there's playgrounds, parks, a school, the roads are much wider."
Many of the recent sales in Taylor were new-build homes, which Mr Nappilly said buyers were willing to pay a premium for.
"The amount of money put into these houses - it just makes it feel worthwhile to the buyers to spend money on these products," he said.
House values were also at their peak in Theodore, where the median was $811,000 and in Coombs, with a median of about $1.14 million.
Unit values had also reached an all-time high in two Canberra suburbs, CoreLogic found.
The median unit value had peaked in the inner south suburbs of Forrest at $928,000 and Griffith at $653,000.
Lowest growth suburbs
In the two years since rates began rising, the steepest declines in house values were seen in three Woden Valley suburbs.
The median house value in Lyons dropped 17 per cent, followed by Chifley and Pearce where values fell 16 per cent.
Meanwhile, unit values fell deepest in Kambah, Holt and Campbell, where the median declined between 6 and 7 per cent.
