Over the last year, property investments in Greenway, 2900 have given investors a capital gain of 4.47%. This compares favourably with the 0.86% for ACT as a whole.
Comparing Greenway,2900 ‘s 5year and quarterly average capital gain offered to property investors, it performed better across the longer period
LACK OF BUYER INTEREST may well be the reason that Greenway is offering property investors an average of -3.62. This rate of discount on properties puts Suburb at number 9th in terms of most discounted suburbs in ACT
Renters in Suburb are facing rents around $23400 per annum or $450 every week.
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Information supplied by:
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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