Greenway has had a pretty good year for property investment returns compared to the rest of ACT, giving investors a capital gain of 1.60% to date .
Greenway,2900 has offered an average of 1.60% return per annum in house price rises to property investors over the last three years.
State is the 8th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -3.95% offered to property buyers. Sellers in Greenway itself are offering an average vendor discount of -4.52% to real estate investors.
Property investors should expect to get $450 weekly from the median priced house in this suburb.
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Vacancies increase in recovering suburb
Median unit price: $369,000
Vacancy rate: 4.0%
Three-year growth: -9.8%
Named for architect Francis Greenway, this Tuggeranong suburb is showing signs of recovery after a period of decline. However, the lack of confidence has become clear in the increase of the average vacancy rate from 1.5% to 4%.
Up until 2014, Greenway saw apartment prices drop, which could have influenced perceptions on the suburb’s potential. Nonetheless, at present, values are low and yields are quite high, so this could open opportunities for investors.
Greenway is home to the Tuggeranong Town Centre, which is the home of amenities like malls, the Tuggeranong Hyperdome, a bus interchange, the Tuggeranong Arts Centre, and Lake Tuggeranong College. Lake Tuggeranong is one of the suburb’s borders, and is a great spot for recreational activity.