Greenway is in the bottom 40% 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 1.65%.
The five-year average increase in median property values for Greenway,2900 has given property investors a potential capital gain of -11.17% across each of those five years.
Property investors looking for a bargain in Greenway should be aiming for at least -4.51% off the asking price, which is the average vendor discount being achieved at the moment.
The ACT suburb of Greenway, 2900 is in the Unincorporated ACT local government area.
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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.