Investment property in Griffith has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.09%
When looking at the potential capital gains offered to property investors over the last 3 years, Griffith comes in at number 390th in NSW.
Griffith, 2680 is offering NSW ‘s 812th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 20% of discounts offered by this NSW.
Renters in Suburb are facing rents around $18720 per annum or $360 every week.
At number 619th in the list of Australian suburbs ordered by increase in median house value over the last year, Griffith, 2680 is in the top half with a property value increase of -0.28% recorded in median house prices.
Across a shorter period, Griffith, 2680 has seen a median price increase of 0.28% over the last quarter.
With the median price for a house in Griffith being $268250 and the advertised rent reaching $310 the gross rental yield for property investors calculates out to be 6.01%
Information supplied by:
Vacancies swallowed in this food capital
Median house price: $310,000
Vacancy rate: 1.2%
Three-year growth: 14.8%
Situated within Australia’s Wine and Food Country, the suburb of Griffith benefits from a strong economy brought about in large part by agriculture and tourism. It has seen considerable commercial development over recent years, generating many amenities and conveniences.
As a result, vacancies have fallen from an already-low 1.8% to just 1.2% over the past 12 months leading up to July 2017. A likely contributor is the affordability of houses in this area – at a median price of just over $300,000, buyers certainly get an excellent deal while still getting to live within a major city. Aside from being home to various shopping centres, Griffith is the third-largest education hub in the Riverina region after Wagga Wagga and Leeton. It also has its own airport a mere 5km from the town centre.