The CSIRO has flagged the potential sale of its Ginninderra field station as it looks for ways to better utilise the land.

It said the site was currently underutilised and it had requested that the National Capital Authority (NCA) reclassify the land as an urban area.

The 701-hectare site is surrounded by residential housing, and is used for cropping trials.

But a recent review of the CSIRO's property holdings found the land was not being used to its full potential, prompting consideration of a sale.

"We haven't completely made a decision at this stage," CSIRO Business and Infrastructure general manager Mark Wallis said.

"We continually review our property holdings to align with our organisational priorities ... so we have been looking at our portfolio for a number of years, and this site has regularly been assessed as an opportunity for the CSIRO.

"The money that would be used from this site if we went to a further opportunity would be reinvested in our sites not only here in the ACT but also nationally."

If the land was sold, Mr Wallis said it would be a huge opportunity for development in Canberra.

"There have been repeated reports in the media on land supply, and we see this as an opportunity," he said.

Chief executive of the ACT Real Estate Institute Ron Bell agreed the move would open up development opportunities in Canberra's north.

"It is a prime site for the development of housing, and as such we would applaud their move," he said.

Mr Bell said he hoped the site would be approved by the NCA quickly, but that the NCA could take some time to consider its decision.

"I would think it should meet all the statutory timeframes that would be necessary for it and it wouldn't have too many delays, but even so it'll take some time," he said.

Chief Minister Andrew Barr said that while there was merit in considering the site for future development, robust planning processes led by the National Capital Authority would be necessary.

"Appropriate sequencing of development if it were to occur impacts on existing residents in surrounding areas and infrastructure upgrades that would be necessary," he said.

"This process has got a long way to go in that nothing is going to happen quickly."

With major development projects underway across the city, Minister Barr said the Ginninderra site would not take priority.

"We have major estates being developed in the Molonglo Valley, West Belconnen, at Riverview and the balance of Gungahlin to develop, together with significant urban infill occurring within the CBD, along the Northbourne Avenue corridor and in our town centres.

"In the short term, there's no shortage of available development opportunities, but longer term for Canberra it is a reality that in the next couple of decades we will run out of greenfield land to develop."