Investment property in Griffith has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.16%
Across a shorter period, Griffith, 2603 has seen a median price increase of -2.24% over the last quarter.
Renters in Suburb are facing rents around $9870 per annum or $822.5 every week.
ACT has seen average median house prices change by -1.57% which means that Griffith, 2603 has not done well for property investors by showing a capital gain of -3.92% over the last year
Comparing Griffith,2603 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Griffith, 2603. Typically our figures indicate that -4.35% is being offered, which puts this ACT suburb at 967th most discounted overall in Australia.
Griffith, 2603’s gross rental yield is 4.41%
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.