Greenway is in the bottom 10% in ACT when comparing median price capital growth over the last year. Greenway gave property investors a dismal capital gain figure when compared to the rest of the state, with -25.40%.
Across a shorter period, Greenway, 2900 has seen a median price increase of -13.76% over the last quarter.
At number 12th of ACT’s most discounted properties, Greenway is in the bottom 20% of the state/territory when listing in order of most discounted to least.
Advertised rents are around the $460 mark per week – giving a return of 5.97% based on the median price in Suburb
ACT has seen average median house prices change by 2.96% which means that Greenway, 2900 has done well for property investors by showing a capital gain of -3.22% over the last year
When looking at the potential capital gains offered to property investors over the last 3 years, Greenway comes in at number 54th in ACT.
Sellers are offering property buyers an average discount of -4.30% to buyers in Greenway at the moment, which is less than average for the rest of ACT.
Often selling an investment property can take time, and in Greenway the average time real estate has been on the market is 132.25 days.
Using the current median advertised rental of $435 and the average annual increase in value of a median property of 0.58%, investors should hope to achieve an overall return of 5.77%
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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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