In the last year 11 properties changed hands in Greenway, which puts it as the 90th most active market in ACT when comparing the number of sales per suburb.
Investment property in Greenway has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.60%
When looking at the potential capital gains offered to property investors over the last 3 years, Greenway comes in at number 27th in ACT.
At number 5th of ACT’s most discounted properties, Greenway is in the bottom 30% of the state/territory when listing in order of most discounted to least.
Often selling an investment property can take time, and in Greenway the average time real estate has been on the market is 91.9661 days.
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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.