ACT has seen average median house prices change by 7.20% which means that Griffith, 2603 has done well for property investors by showing a capital gain of 7.69% over the last year
Across a shorter period, Griffith, 2603 has seen a median price increase of 1.08% over the last quarter.
The ACT suburb of Griffith, 2603 is in the Unincorporated ACT local government area.
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 4.97%
Griffith,2603 has offered an average of 4.97% return per annum in house price rises to property investors over the last three years.
Griffith, 2603 is offering ACT ‘s 29th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this ACT.
Often selling an investment property can take time, and in Griffith the average time real estate has been on the market is 92.75 days.
A $415 per week rent on the median house gives suburb investors a gross yield of circa 4.07%, without taking into account capital value appreciation, which has been averaging out at 5.82%.
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.