Giving property investors a a stable capital gain of 9.24% for the last year, Griffith, 2603 is the 1340th highest performer in Australia in this respect.
The five-year average increase in median property values for Griffith,2603 has given property investors a potential capital gain of 25.30% across each of those five years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Griffith, 2603. Typically our figures indicate that -8.28% is being offered, which puts this ACT suburb at 679th most discounted overall in Australia.
If you compare the increase in value of investment property in Griffith, 2603 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this ACT suburb was -4.50%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Griffith has increased when compared to the 5 year average annual rate.
Vendor discounting in Griffith is giving property investors an average Vendor Discount of around -4.22%. This puts suburb at number 17th in ACT when ranking the most discounted suburbs.
In the last year 130 properties changed hands in Griffith, which puts it as the 5th most active market in ACT when comparing the number of sales per suburb.
Griffith is situated less than 2km south of Parliament House, and is one of Canberra’s prestige suburbs. While houses in the suburb are some of the most expensive in the federal capital, with the median price surpassing the $1m mark, units are still relatively affordable.Full summary
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Griffith is situated less than 2km south of Parliament House, and is one of Canberra’s prestige suburbs. While houses in the suburb are some of the most expensive in the federal capital, with the median price surpassing the $1m mark, units are still relatively affordable.
Griffith’s median unit price is well below that of Kingston, Barton, and ultra-prestige Forrest, for example..
The suburb’s local economy is driven by the federal government, as its home to a number of government departments. It’s also well served for cafes, bars and recreational facilities, both within the suburb and nearby locales of Kingston and Manuka.
Griffith is within easy reach of the airport and just a short walk from Lake Burley Griffin. It attracts a high-income demographic, with a significant proportion of high-level civil servants and a number of diplomatic staff.
The more affordable median is due to a number of unit developments taking place amongst the prestige properties, serving junior and mid-level government workers and the aforementioned diplomatic staff. This also creates demand for rental properties. While units aren’t cheap, a recent slowdown in price growth suggests there may be buying opportunities in a desirable suburb where demand is likely to remain steady for the foreseeable future.