Property investors who have had real estate in Griffith, 2603 should be unhappy with this ACT suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -19.28%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Griffith has increased when compared to the 5 year average annual rate.
The most recent median price for Griffith is $1900000, with sellers offering an average of 0.00% off the asking price.
Using the current median advertised rental of $370 and the average annual increase in value of a median property of -8.00%, investors should hope to achieve an overall return of 1.01%
Over the last year, property investments in Griffith, 2603 have given investors a capital gain of 0.00%. This compares averagely with the -0.88% for ACT as a whole.
While Griffith,2603 ranked number 59th in ACT for increase in median house value (annualised) increase, it is ranked 14th over the last 5 years.
The most recent median price for Griffith is $500000, with sellers offering an average of 0.00% off the asking price.
The ACT suburb of Griffith, 2603 is in the Unincorporated ACT local government area.
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Canberra suburb makes more room
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.