Suburb Profile Report for Griffith ACT (2603)

Griffith House: Median price $1,400,000, Annual capital growth 5.81%, Number of sales 47, Weekly median advertised rent $950

Griffith Unit: Median price $530,000, Annual capital growth 5.82%, Number of sales 178, Weekly median advertised rent $415

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

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%.

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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.Full summary

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.

Close
Metrics i HOUSE UNIT
$1,400,000 $530,000
1.08% 0.47%
7.69% 4.97%
5.81% 5.82%
$950 $415
47 178
3.53% 4.07%
66.92 92.75

Source: CoreLogic

DSR Score for property investment : Balanced (H), Above average (U)
Find a mortgage broker in Griffith ACT
Demographics
Total population 3899
Median household income ($/weekly) 2182
Median age of persons 38
Median housing loan repayment ($/monthly) 2500
Average household size 2.2
  • Census Count Percent(%)
    5-14 years 361 9.3
    25-34 years 760 19.5
    35-44 years 510 13.1
    45-54 years 636 16.3
    55-64 years 487 12.5
    Others 1146 29.4
    Age Group
    Census Count Percent(%)
    Not Married 1392 46.0
    Registered Married 1260 41.6
    Defacto Relationship 376 12.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 2768 75.0
    Indonesia 53 1.4
    Papua New Guinea 59 1.6
    United Kingdom 194 5.3
    Other 208 5.6
    Others 408 11.1
    Country of Birth
    Census Count Percent(%)
    Buddhism 60 1.7
    Christianity 2042 58.3
    Hinduism 50 1.4
    Islam 35 1.0
    No Religion 1272 36.3
    Others 45 1.3
    Religious Affiliation
  • Census Count Percent(%)
    $1,500-$1,999 174 11.6
    $2,000-$2,499 123 8.2
    $2,500-$2,999 244 16.2
    $3,000-$3,499 135 9.0
    $4,000 or more 226 15.0
    Others 604 40.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1630 50.8
    Not in the labour force 833 25.9
    Employed, worked part-time 506 15.8
    Employed, away from work 157 4.9
    Unemployed, looking for work 85 2.6
    Person Characteristics
  • Census Count Percent(%)
    Managers 480 21.0
    Professionals 901 39.3
    Technicians & trades workers 128 5.6
    Community & personal service workers 184 8.0
    Clerical & administrative workers 357 15.6
    Others 240 10.5
    Occupation
    Census Count Percent(%)
    Pre-school 27 2.9
    Infants/Primary 238 25.4
    Secondary 244 26.1
    Technical or Further Educational Institution 78 8.3
    University or other Tertiary Institutions 326 34.8
    Others 23 2.5
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2158 60.2
    Flat, unit or apartment 1254 35.0
    Semi-detached, row or terrace house, townhouse 168 4.7
    House or flat attached to a shop, office 4 0.1
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 766 46.3
    Fully owned 445 26.9
    Being purchased 434 26.3
    Other tenure type 8 0.5
    Tenure Type
Census 2011, ABS
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Recent sales & rentals