Griffith is in the bottom 30% 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 4.48%.
Taking the average capital gain, or increase in median house value, Griffith,2603 has racked up an average of 4.48% over the period. This ranks it number 1804th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Griffith is giving property investors an average Vendor Discount of around 0.00%. This puts suburb at number 63th in ACT when ranking the most discounted suburbs.
Residents and property investors in Griffith have been waiting around 78.21 days to sell a property.
Advertised rents are around the $950 mark per week – giving a return of 3.53% based on the median price in Suburb
ACT has seen average median house prices change by 2.21% which means that Griffith, 2603 has done well for property investors by showing a capital gain of 5.47% over the last year
Griffith,2603 was ranked 942 in Australia by increase in median property value over the quarter.
The most recent median price for Griffith is $532500, with sellers offering an average of -2.65% off the asking price.
Often selling an investment property can take time, and in Griffith the average time real estate has been on the market is 75.17 days.
With the median price for a house in Griffith being $532500 and the advertised rent reaching $427.5 the gross rental yield for property investors calculates out to be 4.17%
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.