Over the last year, property investments in Griffith, 2603 have given investors a capital gain of 1.54%. This compares badly with the 5.15% for ACT as a whole.
Griffith,2603 was ranked 3223 in Australia by increase in median property value over the quarter.
Advertised rents are around the $975 mark per week – giving a return of 3.84% based on the median price in Suburb
Griffith is an average performer in ACT when comparing median price capital growth over the last year. Griffith gave property investors a average capital gain figure when compared to the rest of the state, with 1.06%.
When looking at the potential capital gains offered to property investors over the last 3 years, Griffith comes in at number 19th in ACT.
Property buyers and investors in Griffith 2603 should be seeing an average reduction in asking price of around -4.51% . This means that Griffith is holding prices well when compared to other suburbs in ACT.
The ACT suburb of Griffith, 2603 is in the Unincorporated ACT local government area.
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.