Property investors who have had real estate in Griffith, 2603 should be relatively unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 0.77%
Griffith,2603 was ranked 2917 in Australia by increase in median property value over the quarter.
Advertised rents are around the $962.5 mark per week – giving a return of 3.82% based on the median price in Suburb
Investment property in Griffith has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.34%
If we look at median property appreciation over just the last three months, Griffith has given property investors a paper return of 0.29%. This puts Suburb as 33 on a list of fastest fasting appreciating suburbs in ACT
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 -4.51% is being offered, which puts this ACT suburb at 940th most discounted overall in Australia.
With the median price for a house in Griffith being $496450 and the advertised rent reaching $410 the gross rental yield for property investors calculates out to be 4.29%
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.