Suburb Profile Report for Griffith ACT (2603)

Griffith House: Median price $1,317,500, Annual capital growth 3.70%, Number of sales 62, Weekly median advertised rent $800

Griffith Unit: Median price $445,000, Annual capital growth 2.97%, Number of sales 72, Weekly median advertised rent $470

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

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

ACT has seen average median house prices change by 4.34% which means that Griffith, 2603 has done well for property investors by showing a capital gain of -8.51% over the last year

If we look at median property appreciation over just the last three months, Griffith has given property investors a paper return of -4.53%. This puts Suburb as 86 on a list of fastest fasting appreciating suburbs in ACT

Our latest figures would indicate that property sellers in Griffith are currently offering property investors an average price cut of -3.30% below the asking price at the moment.

Renters in Suburb are facing rents around $41600 per annum or $800 every week.

Over the last year, property investments in Griffith, 2603 have given investors a capital gain of -2.20%. This compares badly with the 4.05% for ACT as a whole.

Griffith,2603 has offered an average of -2.20% return per annum in house price rises to property investors over the last three years.

Property investors looking for a bargain in Griffith should be aiming for at least -3.86% off the asking price, which is the average vendor discount being achieved at the moment.

The ACT suburb of Griffith, 2603 is in the Unincorporated ACT local government area.

Information supplied by:


August 2018

M
O

W
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Pricey suburb welcomes renters

Postcode: 2603

Median house price: $1,515,000

Vacancy rate: 1.7%

Three-year growth: 41.6%

The premium suburb of Griffith in Canberra saw a strong influx of renters in the 12 months to May 2018.

The average vacancy rate tightened considerably from 3% in 2017 to just 1.7%, indicating high demand for rental properties even though the average rent rate is steep at $800 per week.

While investors reap only 2.7% yield, the growth trend in the suburb certainly shows that it has a lot of steam for the long term. House prices rose by over 40% in 2015, and in the May 2017-2018 period alone, increased by 10.6% to hit a median of $1,515,000.

Griffith’s convenience contributes to its remarkable performance – it is home to the Manuka Shopping Centre and to the Russian Embassy in Canberra. Many schools are established in Griffith as well, including St Edmund’s College.

Metrics i HOUSE UNIT
$1,317,500 $445,000
-4.53% -2.20%
-8.51% -2.20%
3.70% 2.97%
$800 $470
62 72
3.16% 5.49%
64.21429 73.333336

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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