Over the last year, property investments in Griffith, 2603 have given investors a capital gain of 10.58%. This compares favourably with the 5.96% for ACT as a whole.
If we look at median property appreciation over just the last three months, Griffith has given property investors a paper return of 4.48%. This puts Suburb as 7 on a list of fastest fasting appreciating suburbs in ACT
Vendor discounting in Griffith is giving property investors an average Vendor Discount of around 0.00%. This puts suburb at number 57th in ACT when ranking the most discounted suburbs.
On average over the past year, suburb has had 3.75 sales per month, which equates to 45 per year.
Renters in Suburb are facing rents around $9600 per annum or $800 every week.
With a capital gain of -12.38% for the last 12 months, Griffith, 2603 has performed for property investments than its average annual 3.49% property growth over the last 5 years.
The five-year average increase in median property values for Griffith,2603 has given property investors a potential capital gain of 9.26% across each of those five years.
Sellers are offering property buyers an average discount of -3.52% to buyers in Griffith at the moment, which is less than average for the rest of ACT.
On average over the past year, suburb has had 8.83 sales per month, which equates to 106 per year.
Griffith is 33th on a list of best yielding suburbs for rents in ACT with a 5.17% return
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.