Greenway, 2900 ranked 93th in ACT when comparing growth in median property values or capital gain over the last 12 months. Greenway is one of 126 in our list for ACT
Situated 16.07km from the CBD, Greenway is one of Unincorporated ACT localities in the postcode 2900.
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 2.31%
Across a shorter period, Greenway, 2900 has seen a median price increase of 1.66% over the last quarter.
The most recent median price for Greenway is $400000, with sellers offering an average of -4.35% off the asking price.
With the median price for a house in Greenway being $400000 and the advertised rent reaching $440 the gross rental yield for property investors calculates out to be 5.72%
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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.