Spence
At 89.5th percentile for household income nationally, Spence punches well above its modest $550,000 median house price, making it one of the more affordable entry points into a high-income postcode in the ACT. The suburb covers just 1.52 square kilometres and holds 2,587 residents at a density of 1,699 per square kilometre. Separate houses dominate at 92.5% of dwellings, a detached-house share far above most urban ACT suburbs. The workforce leans heavily on public administration, which accounts for 28.9% of employment, consistent with Canberra's government economy. SEIFA decile 8 on all four indexes places residents above the national median on advantage, economic resources and relative disadvantage measures.
Population
2,587
Median Age
38.0
Household IncomeiMedian weekly household income (ABS Census)
$2,358/wk
DAs (12 months)iDevelopment Applications lodged in the past year
1
Median House
$550K
Estimated from rent (2025)
The estimated median house price of $550,000 is well below the ACT median, offering buyers detached housing at a lower entry point than most Canberra suburbs. With 92.5% of dwellings being separate houses and 48% having four or more bedrooms, Spence suits family buyers seeking space rather than apartment buyers. Monthly mortgage repayments average $2,120, producing a mortgage-to-income ratio of 20.8%, below the 30% stress threshold, because household income sits in the 89.5th percentile nationally at $2,358 per week. Outright owners account for 33.5% and mortgage holders 46.2%, while renters are just 20.3%, indicating an ownership-heavy community. The low renter share and high owner-occupier rate suggest stable, longer-term residents rather than a transient market.
For Buyers
The estimated median house price of $550,000 is well below the ACT median, offering buyers detached housing at a lower entry point than most Canberra suburbs. With 92.5% of dwellings being separate houses and 48% having four or more bedrooms, Spence suits family buyers seeking space rather than apartment buyers. Monthly mortgage repayments average $2,120, producing a mortgage-to-income ratio of 20.8%, below the 30% stress threshold, because household income sits in the 89.5th percentile nationally at $2,358 per week. Outright owners account for 33.5% and mortgage holders 46.2%, while renters are just 20.3%, indicating an ownership-heavy community. The low renter share and high owner-occupier rate suggest stable, longer-term residents rather than a transient market.
For Investors
Renters make up only 20.3% of dwellings, which limits the tenant pool compared to higher-density ACT suburbs. Weekly rent of $375 against a $550,000 median gives a gross yield around 3.6%, modest but consistent with owner-occupier-dominated stock. Vacancy sits at 4.9%, above the healthy market threshold of 3%, pointing to some softness in rental demand. Net internal migration averages minus 44 per year, meaning more people leave the ACT region than arrive domestically, with overseas migration adding a smaller offset of 16 per year. Development activity recorded zero applications in the past 12 months, confirming this as a fully built-out suburb with no new supply pressure. Population is declining slowly at 0.32% annually, which reduces demand-side pressure for investors.
Development Activity
Total DAs
17
Last 12 Months
1
YoY ChangeiYear-over-year change in DA lodgements
-66.7%
Avg DA CostiAverage estimated cost per DA in the past year
N/A
Monthly DA Lodgements
DA Categories
Demographics
The median age of 38 is 2 years below the national figure, and the age composition is shifting toward older cohorts, with the senior share up 7.5 points and the working-age share down 4.8 points over the decade. University qualifications reach 39.8%, which is 9.7 percentage points above the national average, reflecting proximity to the ACT's government and professional workforce. Overseas-born residents account for 16.7% of the population, 4.9 points below the national figure, making Spence more Anglo-Celtic than most comparable urban suburbs. Ancestry is led by English (1,007), Irish (385) and Scottish (334). Average household size of 2.7 is 0.2 above the national figure, consistent with the large share of couples with children, who represent 969 of 2,152 families. Volunteering reaches 20.1% of the population, above the national average.
Age Distribution
Bedrooms
Dwelling Structure
92.5%
Houses
7.5%
Townhouse
N/A
Apartment
Tenure
The housing stock is dominated by separate houses at 92.5%, with semi-detached dwellings making up the remaining 7.5% and no recorded apartment share. Bedroom distribution skews large: 48% of dwellings have four or more bedrooms and 45.6% have three bedrooms, leaving just 6.4% with two or fewer. Tenure splits into 33.5% outright owners, 46.2% with a mortgage and 20.3% renting, a profile where mortgage holders outnumber outright owners because the suburb's population is younger than a purely established area. Mortgage-to-income at 20.8% and rent-to-income at 15.9% are both below stress thresholds, reflecting the 89.5th-percentile household income of $2,358 per week. The $550,000 estimated median is based on rental data rather than direct sales, so buyers should verify with recent transaction records.
Mortgage / mo
$2,120
Rent / wk
$375
HH Size
2.7
Personal Income / wk
$1,125
Vacancy Ratei% of dwellings unoccupied on Census night (ABS 2021)
4.9%
Unoccupied
48
Rent / IncomeiMedian rent as % of household income. Over 30% = housing stress
15.9%
Mortgage / IncomeiMedian mortgage as % of household income. Over 30% = housing stress
20.8%
Community Profile
Languages Spoken at Home
Ancestry
Household Composition
25.3%
Couples, no children
2,152
Total families
Economy & Employment
Public administration employs 28.9% of local workers (269 people), more than double the next largest sector, which reflects Canberra's role as Australia's public service capital. Education and healthcare each contribute around 13%, and Professional/Tech adds 10.5%, producing a diverse knowledge-worker base consistent with the suburb's SEIFA decile 8 advantage score. By occupation, Professionals (338) and Clerical/Admin workers (220) lead, followed by Managers (206). The unemployment rate of 4.8% is slightly above the national average but participation at 61.8% reflects a sizeable non-labour-force cohort of 628 people, likely including retirees. Real income grew 8.1% over the decade, while household income at $2,358 per week places Spence in the 89.5th income percentile nationally.
Unemployment
5.4%
Labour Force
1,388
Unemployed
75
Quarterly Trend
Source: SALM Dec-25
Socio-Economic Indexes (SEIFA)iABS index ranking suburbs from 1 (most disadvantaged) to 10 (most advantaged)
Full-time
66.3%
Part-time
28.9%
Participation
61.8%
Employed
1,217
Occupations
Top Industries
University
39.8%
Postgraduate
11.7%
Born Overseas
16.7%
Dwellings
930
Transport to Work
Car dependence is high at 87.6% of commuters, with just 4.5% using public transport and 1.6% walking or cycling, consistent with Canberra's suburban layout and limited rail network. The suburb sits in decile 8 on IRSAD (advantage and disadvantage), placing it above the national median on combined advantage. Mortgage and rent stress are both absent: mortgage-to-income at 20.8% and rent-to-income at 15.9% stay well below the 30% stress line, because incomes rank in the 89.5th percentile nationally. No schools are recorded within the Spence boundary itself, though the suburb sits within the broader Belconnen district, which has multiple government schools accessible within a short drive. Only 5.6% of residents (140 people) need daily assistance, below what the aging trajectory might suggest.
Drive
87.6%
Public Transport
4.5%
Walk / Cycle
1.6%
Work from Home
N/A
Population Forecast
-0.32%/yr
(-8 people/yr)
EstablishedSpence is on a slow, steady decline: population fell from 2,562 in 2023 to 2,535 in 2025, and the medium forecast projects a further drop to 2,477 by 2031. The annual rate of minus 0.32% translates to roughly 8 fewer residents each year. The 10-year population change was just 1.1%, confirming an established suburb with minimal organic growth. Net internal migration averages minus 44 per year, meaning the Canberra region loses more residents domestically than it gains, while overseas migration adds only 16 per year on average. The affordability trend is worsening, with mortgage-to-income rising from 29.6% in 2011 to 33.3% in 2021, but Spence's current 20.8% ratio still sits below that territory. The gentrification score is 33 with early signs classification, though the formal gentrification model returns not gentrifying.
Historical + Forecast
Hamilton-Perry + Holt smoothing on ERP 2001-2025
Age Cohort Forecast
Primary Driver
Overseas Migration
Net Overseas / yr
+16
Net Internal / yr
-44
Gentrification Signal
Not gentrifying
National Ranking iPercentile rank among ~15,000 AU suburbs. 90% = higher than 90% of suburbs
How Spence compares to ~15,000 Australian suburbs
Frequently Asked Questions
Is Spence a good suburb to live in?
Spence ranks in decile 8 on all four SEIFA indexes, placing it above the national median on advantage, resources and relative disadvantage measures. Household income sits in the 89.5th percentile nationally at $2,358 per week, mortgage stress is absent at 20.8% of income, and volunteering runs at 20.1%. The main trade-off is high car dependence at 87.6% of commuters.
What is the median house price in Spence?
The estimated median house price is $550,000, derived from rental data for 2025. Weekly rent averages $375 and monthly mortgage repayments run around $2,120, giving a mortgage-to-income ratio of 20.8%, well below the 30% stress threshold given the suburb's 89.5th-percentile household income.
What schools are in Spence?
No schools are recorded inside the Spence suburb boundary in this dataset. The suburb sits within Canberra's Belconnen district, which has several government primary and high schools accessible within a short drive. University qualifications locally reach 39.8%, which is 9.7 points above the national average, reflecting the educated workforce that many Spence families bring.
Is Spence safe?
Detailed crime statistics for Spence are not available in this dataset. As an indirect indicator, the suburb scores decile 8 on the IRSD index of relative socioeconomic disadvantage, placing it above the national median, and only 5.6% of residents (140 people) need daily assistance. Both are consistent with a low-disadvantage, stable residential area.
Is Spence good for property investment?
The 20.3% renter share is low compared to most ACT suburbs, limiting the tenant pool. Weekly rent of $375 against a $550,000 median implies a gross yield near 3.6%, modest for a market with 4.9% vacancy and declining population at minus 0.32% per year. Net internal migration of minus 44 per year and zero development applications in the past 12 months signal a fully built-out suburb with limited capital growth triggers.
How is Spence's population changing?
Population declined from 2,562 in 2023 to 2,535 in 2025 and is projected to reach 2,477 by 2031 under medium forecasts. The annual rate is minus 0.32%, or about 8 fewer residents each year. Net internal migration averages minus 44 per year, while overseas migration adds only 16, and the 10-year population change was just 1.1%.
What industries employ people in Spence?
Public administration is the dominant employer at 28.9% of workers (269 people), reflecting Canberra's government focus. Education (13.2%) and healthcare (13.0%) each account for around 1 in 8 jobs, followed by Professional/Tech at 10.5% and Construction at 10.4%. Together these five sectors cover 86% of local employment.
How to read these comparisons
Phrases like "above the national average" reference the unweighted median across Australian suburbs with more than 1,000 residents, not population-weighted national figures. Suburb-level medians are more useful for ranking suburbs against each other; ABS census headlines are population-weighted (so dominated by Sydney and Melbourne) and can read very differently.
Current baseline (refreshed 2026-05-10): median age 40, university-educated 30.1%, born overseas 21.6%, average household size 2.5 people.
Data sources: ABS 2021 Census (demographics, income, tenure), state Valuer-General (house prices), Department of Jobs SALM (unemployment), ACARA (school ICSEA), state Crime Statistics agencies (offences), council DA portals (development applications). Population forecasts use a Hamilton-Perry cohort model calibrated to ABS ERP.
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