Suburb Profile Report for Griffith ACT (2603)

Griffith House: Median price $1,410,000, Annual capital growth 4.25%, Number of sales 51, Weekly median advertised rent $700

Griffith Unit: Median price $440,000, Annual capital growth 2.38%, Number of sales 77, Weekly median advertised rent $480

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

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

  • Expert Report
  • House Report
  • Unit Report

Giving property investors a an average capital gain of -2.59% for the last year, Griffith, 2603 is the 2179th highest performer in Australia in this respect.

Across a shorter period, Griffith, 2603 has seen a median price increase of 5.42% over the last quarter.

A $700 per week rent on the median house gives suburb investors a gross yield of circa 2.58%, without taking into account capital value appreciation, which has been averaging out at 4.25%.

ACT has seen average median house prices change by 0.65% which means that Griffith, 2603 has done well for property investors by showing a capital gain of -1.95% over the last year

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Griffith has fallen somewhat when compared to the 5 year average annual rate.

Property buyers and investors in Griffith 2603 should be seeing an average reduction in asking price of around -4.18% . This means that Griffith is holding prices well when compared to other suburbs in ACT.

Often selling an investment property can take time, and in Griffith the average time real estate has been on the market is 90.569 days.

Situated 5.05km from the CBD, Griffith is one of Unincorporated ACT localities in the postcode 2603.

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Canberra suburb makes more room

Postcode: 2603

Median unit price: $445,000

Stock on market: 73.2%

12-month growth: -2.2%

Situated in the inner south of Canberra, the suburb of Griffith is home to the Manuka Shopping Centre, which is regarded as one of the first shopping hubs in the capital.

It is also one of Canberra’s oldest suburbs, and its streets bear the original design by Walter Burley Griffin. It is dominated by parks that make it ideal for families with children. St Edmund’s College is established here, along with several other schools. Telopea Park School and Narrabundah College are in the neighbouring suburbs of Barton and Narrabundah.

Canberra’s CBD is about 10 minutes away by car, and commuters can also get to the city by bus. The number of units in this suburb skyrocketed in the year to May 2019.

Metrics i HOUSE UNIT
$1,410,000 $440,000
5.42% -2.22%
-2.59% -1.95%
4.25% 2.38%
$700 $480
51 77
2.58% 5.67%
76.1282051282051 90.5689655172414

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

DSR Score for property investment : Balanced (H), Good (U)
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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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