If you compare the increase in value of investment property in Griffith, 2680 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 10.61%.
Griffith,2680 has offered an average of 10.61% return per annum in house price rises to property investors over the last three years.
Griffith2680 is located in NSW which offers an average discount of -7.32% to property investors. Griffith itself is showing figures that indicate -5.10% is the average achievable by property buyers investing in the suburb.
Using the current median advertised rental of $360 and the average annual increase in value of a median property of 3.54%, investors should hope to achieve an overall return of 5.13%
Property value increases in Griffith have tracked just higher than the NSW average of -3.67% over the last 12 months.
A 40.37% growth in median value for property investors in Griffith,2680 puts this suburb at number 430th in terms of best performing suburbs in NSW
Information supplied by:
Median House Price: $360k
Current Yield (houses): 5.1%
Average annual growth (houses): 3.4%
Median Unit Price: $273,250
Current Yield (units): 5.9%
Average annual growth (units): 3.9%
A wine-growing haven, Griffith is a suburb that is located in the Riverina region of New South Wales. It is presenting an ideal entry door for the first-time buyer or investor.
The median house price sits at $360k, and the median unit price at just over $270k, coupled with impressive rental yields of 5.1% for houses and 5.9% for units.
There are a number of major supermarkets in immediate reach, as well as restaurants and renowned wineries to explore; including names such as Mino and Co, and Barrato Wines.
Medical facilities are in easy reach, and there are local public schools, with further schools available in the surrounding suburbs. The natural makeup of the region allows residents to enjoy a lifestyle that is enriched by outdoors activities, with many scenic walking trails on offer, or the option for an afternoon picnic and a spot of fishing at nearby Lake Wyangan.
The suburb is attractive for its community spirit and local events, such as the Long Lunch at Piccolo Family Farm and the City to Lake Fun Run. There is also a weekly market that sells fresh produce from local farmers.
Property values in Griffith have made good progress, with house values increasing by an average annual growth rate of 3.4% and units by 3.9%.