Suburb Profile Report for Griffith ACT (2603)

Griffith House: Median price $1,300,000, Annual capital growth 6.06%, Number of sales 41, Weekly median advertised rent $795

Griffith Unit: Median price $481,850, Annual capital growth 5.79%, Number of sales 134, Weekly median advertised rent $400

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Griffith, 2603 have given investors a capital gain of 9.24%. This compares favourably with the 5.66% for ACT as a whole.

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.

Griffith is in the bottom 40% in ACT when comparing median price capital growth over the last year. Griffith gave property investors a disappointing capital gain figure when compared to the rest of the state, with -3.14%.

Taking the average capital gain, or increase in median house value, Griffith,2603 has racked up an average of -3.14% over the period. This ranks it number 876th in the whole country for real estate investors looking at median house price increases.

Sellers are offering property buyers an average discount of -4.94% to buyers in Griffith at the moment, which is less than average for the rest of ACT.

Property investors should expect to get $400 weekly from the median priced house in this suburb.

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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.Full summary

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.

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HOUSE UNIT
$1,300,000 $481,850
0.00% -1.15%
9.24% -3.14%
6.06% 5.79%
$795 $400
41 134
3.18% 4.32%
100.76 101.37

Source: CoreLogic

DSR Score for property investment : Balanced (U), Good (H)
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Demographics
Total population 3899
Median household income ($/weekly) 2182
Median age of persons 38
Median housing loan repayment ($/monthly) 2500
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 361 9.3
    25-34 years 760 19.5
    35-44 years 510 13.1
    45-54 years 636 16.3
    55-64 years 487 12.5
    Others 1146 29.4
    Age Group
    Census Count Percent(%)
    Not Married 1392 46.0
    Registered Married 1260 41.6
    Defacto Relationship 376 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2768 75.0
    Indonesia 53 1.4
    Papua New Guinea 59 1.6
    United Kingdom 194 5.3
    Other 208 5.6
    Others 408 11.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 60 1.7
    Christianity 2042 58.3
    Hinduism 50 1.4
    Islam 35 1.0
    No Religion 1272 36.3
    Others 45 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 174 11.6
    $2,000-$2,499 123 8.2
    $2,500-$2,999 244 16.2
    $3,000-$3,499 135 9.0
    $4,000 or more 226 15.0
    Others 604 40.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1630 50.8
    Not in the labour force 833 25.9
    Employed, worked part-time 506 15.8
    Employed, away from work 157 4.9
    Unemployed, looking for work 85 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 480 21.0
    Professionals 901 39.3
    Technicians & trades workers 128 5.6
    Community & personal service workers 184 8.0
    Clerical & administrative workers 357 15.6
    Others 240 10.5
    Occupation
    Census Count Percent(%)
    Pre-school 27 2.9
    Infants/Primary 238 25.4
    Secondary 244 26.1
    Technical or Further Educational Institution 78 8.3
    University or other Tertiary Institutions 326 34.8
    Others 23 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2158 60.2
    Flat, unit or apartment 1254 35.0
    Semi-detached, row or terrace house, townhouse 168 4.7
    House or flat attached to a shop, office 4 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 766 46.3
    Fully owned 445 26.9
    Being purchased 434 26.3
    Other tenure type 8 0.5
    Tenure Type
Census 2011, ABS
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