Property investors who have had real estate in Griffith, 2603 should be ok 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 5.10%
Taking the average capital gain, or increase in median house value, Griffith,2603 has racked up an average of 5.10% over the period. This ranks it number 1965th in the whole country for real estate investors looking at median house price increases.
At number 923 in a list of fastest selling suburbs, Griffith is in the TOP 30% of suburbs in Australia with an average of days on market 58.2 for properties listed there.
Advertised rents are around the $975 mark per week – giving a return of 3.71% based on the median price in Suburb
ACT has seen average median house prices change by 2.38% which means that Griffith, 2603 has done well for property investors by showing a capital gain of 4.00% over the last year
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.
Griffith2603 is located in ACT which offers an average discount of -4.07% to property investors. Griffith itself is showing figures that indicate -4.06% is the average achievable by property buyers investing in the suburb.
Residents and property investors in Griffith have been waiting around 107.82 days to sell a property.
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.