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.
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.