At number 521th in the list of Australian suburbs ordered by increase in median house value over the last year, Griffith, 2680 is in the top 20% with a property value increase of 10.59% recorded in median house prices.
A 41.89% growth in median value for property investors in Griffith,2680 puts this suburb at number 826th in terms of best performing suburbs in NSW
Sellers are offering property buyers an average discount of -5.06% to buyers in Griffith at the moment, which is less than average for the rest of NSW.
Often selling an investment property can take time, and in Griffith the average time real estate has been on the market is 68.2 days.
Griffith, 2680’s gross rental yield is 5.09%
NSW has seen average median house prices change by -0.92% which means that Griffith, 2680 has not done well for property investors by showing a capital gain of 12.50% over the last year
The five-year average increase in median property values for Griffith,2680 has given property investors a potential capital gain of 52.74% across each of those five years.
With the median price for a house in Griffith being $292500 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 5.69%
Information supplied by:
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%.