Greenway is in the bottom 30% in ACT when comparing median price capital growth over the last year. Greenway gave property investors a disappointing capital gain figure when compared to the rest of the state, with -2.50%.
Greenway,2900 has offered an average of -2.50% return per annum in house price rises to property investors over the last three years.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Greenway, 2900. Typically our figures indicate that -4.30% is being offered, which puts this ACT suburb at 982th most discounted overall in Australia.
A $440 per week rent on the median house gives suburb investors a gross yield of circa 5.87%, without taking into account capital value appreciation, which has been averaging out at 0.33%.
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March 2018
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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%Full summary
Vacancies increase in recovering suburb
Postcode: 2900
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.
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