Ben Holder is a Banks enthusiast.
The real estate agent from Jonny Warren Properties is something of a specialist when it comes to selling in the area, which includes the suburbs of Gordon, Conder and Banks.
It is Banks in particular that holds a special place in Mr Holder's heart. Specifically, it is the house he grew up in on Mathews Place, which he says he would buy in a heartbeat if it ever came up for sale.
His parents sold the house for just under $500,000 in 2015, and while Mr Holder estimates it has not quite doubled in value, he said he was willing to pay an additional premium for it if the owner reached out.
"For me to pay an extra $20,000, $30,000, $40,000 for it? I probably would. I would see value at that level because it's got sentimental value," he said.
"The only reason you would want to leave the Lanyon Valley is to either go to work or to buy a pair of jeans. It has everything else you need. It's got great parks, it's got great ovals, it's got great shops."
The median house price in Banks has been tipped to hit $1 million in the next year, according to new analysis by Ray White, and while Mr Holder is not convinced it will get that high, he said three-bedroom houses in the area were currently "flying off the shelf".
He predicted a number of four- and five-bedroom houses would also be put to market in spring, which would appeal to families already in the area looking to upgrade, and naturally bump up the overall median sale prices.
"They buy in the Lanyon Valley due to budget or cost, because you get more bang for your buck. Then, once they're down there, they realise how nice it is, and then they don't want to leave," Mr Holder said.
Dozen suburbs tipped to hit $1 million median
Banks was one of 12 suburbs in the ACT where the median house price was over $900,000 and growth was strong enough to predict they would soon hit the $1 million mark, according to Ray White's research.
House values in Banks grew 20 per cent to a median $900,000 in the past year, according to Ray White economist Atom Go Tian, making it a standout performer in the territory.
It was one of four suburbs in Tuggeranong to make the list, alongside Bonython, Monash and Gilmore.
Six suburbs in Belconnen - Florey, Flynn, Spence, Strathnairn, Giralang and Dunlop - were also being tipped to push over into the seven-figure realm.
Weston Creek and Gungahlin each made a single appearance with Waramanga and Bonner respectively.
Bonner was closest to the threshold: the median house value would only need to go up $500 before hitting seven figures.
"A lot of suburbs, especially the inner city ones, have already passed $1 million," Mr Go Tian said.
"So the suburbs in candidacy to join in the next 12 months are naturally your outer growth suburbs."
Tax reforms in both the federal and territory budgets intended to shift investors out and first home buyers into the market have led to a cooling in property sales in the ACT and in other major cities.
According to Cotality, the median price of a home in the ACT dropped 0.6 per cent in June, the third month in a row the market had trended downwards.
However, Mr Go Tian said the ACT had a low number of investors compared to other major cities, with all 12 areas slated to hit the $1 million median having less than 7 per cent owned by landlords.
Mr Go Tian said he would expect house price growth to slow following the tax reforms, but not as significantly as in suburbs where more than 20 per cent of owners were investors.
"We've noticed that investors do push growth and with the budget changes, we expect that they'll be the first to pull back, which we are actually already seeing," Mr Go Tian said.
"Places like Canberra where owner-occupiers dominate the market won't be as affected."
