Griffith, 2603 ranked 22th in ACT when comparing growth in median property values or capital gain over the last 12 months. Griffith is one of 126 in our list for ACT
When looking at the potential capital gains offered to property investors over the last 3 years, Griffith comes in at number 70th in ACT.
Griffith is 72th on a list of best yielding suburbs for rents in ACT with a 3.37% return
With a capital gain of -0.53% for the last 12 months, Griffith, 2603 has performed for property investments than its average annual 5.99% property growth over the last 5 years.
If we look at median property appreciation over just the last three months, Griffith has given property investors a paper return of 2.19%. This puts Suburb as 22 on a list of fastest fasting appreciating suburbs in ACT
Griffith, 2603 is offering ACT ‘s 6th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this ACT.
In the last year 139 properties changed hands in Griffith, which puts it as the 4th most active market in ACT when comparing the number of sales per suburb.
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.