Griffith has had a pretty average year for property investment returns compared to the rest of ACT, giving investors a capital gain of 5.10% to date .
Comparing Griffith,2603 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Situated 5.58km from the CBD, Griffith is one of Unincorporated ACT localities in the postcode 2603.
If you compare the increase in value of investment property in Griffith, 2603 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this ACT suburb was 2.59%.
Griffith,2603 has offered an average of 2.59% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -4.14% to buyers in Griffith at the moment, which is less than average for the rest of ACT.
On average over the past year, suburb has had 14.00 sales per month, which equates to 168 per year.
Situated 4.35km from the CBD, Griffith is one of Unincorporated ACT localities in the postcode 2603.
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
Information supplied by:
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.