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%.