Suburb Profile Report for Griffith NSW (2680)

Griffith House: Median price $390,000, Annual capital growth 3.84%, Number of sales 285, Weekly median advertised rent $360

Griffith Unit: Median price $303,750, Annual capital growth 5.73%, Number of sales 20, Weekly median advertised rent $320

House
Unit

Source: CoreLogic RP Data

Median price
Number of sales

Source: Monthly data update for Jan 2021 as supplied by CoreLogic. Data is reported to the period ending Oct 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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Investment property in Griffith has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 6.85%

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Griffith has increased when compared to the 5 year average annual rate.

The most recent median price for Griffith is $390000, with sellers offering an average of -3.59% off the asking price.

Advertised rents are around the $360 mark per week – giving a return of 4.80% based on the median price in Suburb

Griffith has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 15.82% to date .

The five-year average increase in median property values for Griffith,2680 has given property investors a potential capital gain of 44.64% across each of those five years.

The NSW suburb of Griffith, 2680 is in the Griffith (C) local government area.

Information supplied by:

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Median House Price: $360k

Current Yield (houses): 5.1%

Average annual growth (houses): 3.4%

Median Unit Price: $273,250

Current Yield (units): 5.9%

Average annual growth (units): 3.9%

A wine-growing haven, Griffith is a suburb that is located in the Riverina region of New South Wales. It is presenting an ideal entry door for the first-time buyer or investor.

The median house price sits at $360k, and the median unit price at just over $270k, coupled with impressive rental yields of 5.1% for houses and 5.9% for units.

There are a number of major supermarkets in immediate reach, as well as restaurants and renowned wineries to explore; including names such as Mino and Co, and Barrato Wines.

Medical facilities are in easy reach, and there are local public schools, with further schools available in the surrounding suburbs. The natural makeup of the region allows residents to enjoy a lifestyle that is enriched by outdoors activities, with many scenic walking trails on offer, or the option for an afternoon picnic and a spot of fishing at nearby Lake Wyangan.

The suburb is attractive for its community spirit and local events, such as the Long Lunch at Piccolo Family Farm and the City to Lake Fun Run. There is also a weekly market that sells fresh produce from local farmers.

Property values in Griffith have made good progress, with house values increasing by an average annual growth rate of 3.4% and units by 3.9%.

Metrics	HOUSE	UNIT
Median price	$390,000	$303,750
Quarterly growth	2.63%	13.02%
12-month growth	6.85%	15.82%
Average Annual Growth	3.84%	5.73%
Weekly median advertised rent	$360	$320
Number of sales	285	20
Gross rental yield	4.80%	5.48%
Days on market	67.4516129032258	N/A

DSR Score for property investment : Good (H), Good (U)

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Demographics

Total population	16973
Median household income ($/weekly)	1015
Median age of persons	35
Median housing loan repayment ($/monthly)	1595
Average household size	2.6

Census	Count	Percent(%)
5-14 years	2420	14.3
25-34 years	2321	13.7
35-44 years	2187	12.9
45-54 years	2088	12.3
55-64 years	1786	10.5
Others	6171	36.4

Age Group

Census	Count	Percent(%)
Registered Married	6011	51.2
Not Married	4756	40.5
Defacto Relationship	982	8.4

Social Marital Status

Census	Count	Percent(%)
Australia	12275	78.3
Indonesia	720	4.6
Japan	854	5.5
Papua New Guinea	353	2.3
Other	587	3.7
Others	878	5.6

Country of Birth

Census	Count	Percent(%)
Christianity	12675	82.0
Hinduism	275	1.8
Islam	336	2.2
Other Religious Groups	612	4.0
No Religion	1481	9.6
Others	73	0.5

Religious Affiliation

Census	Count	Percent(%)
$400-$599	668	12.4
$600-$799	622	11.6
$800-$999	515	9.6
$1,000-$1,249	516	9.6
$1,500-$1,999	705	13.1
Others	2343	43.6

Gross Household Income (Weekly)

Census	Count	Percent(%)
Employed, worked full-time	4728	39.0
Not in the labour force	4208	34.7
Employed, worked part-time	2223	18.3
Employed, away from work	531	4.4
Unemployed, looking for work	448	3.7

Person Characteristics

Census	Count	Percent(%)
Managers	990	13.2
Professionals	1019	13.6
Technicians & trades workers	1064	14.2
Clerical & administrative workers	928	12.4
Labourers	1347	18.0
Others	2135	28.5

Occupation

Census	Count	Percent(%)
Pre-school	336	9.0
Infants/Primary	1479	39.8
Secondary	1080	29.1
Technical or Further Educational Institution	448	12.1
University or other Tertiary Institutions	271	7.3
Others	99	2.7

Type of Educational Institution Attending

Census	Count	Percent(%)
Separate house	13718	88.3
Semi-detached, row or terrace house, townhouse	854	5.5
Flat, unit or apartment	900	5.8
Caravan, cabin, houseboat	48	0.3
House or flat attached to a shop, office	14	0.1
Others	4	0.0