Suburb Profile Report for Griffith NSW (2680)

Griffith House: Median price $376,000, Annual capital growth 3.72%, Number of sales 284, Weekly median advertised rent $368

Griffith Unit: Median price $292,500, Annual capital growth 3.94%, 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 May 2020 as supplied by CoreLogic. Data is reported to the period ending Feb 2020. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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:




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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 i HOUSE UNIT
$376,000 $292,500
0.27% 5.98%
10.59% 12.50%
3.72% 3.94%
$368 $320
284 20
5.09% 5.69%
68.2 N/A

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

DSR Score for property investment : Very good (H), Above average (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
    Dwelling Structure
    Census Count Percent(%)
    Rented 2104 36.4
    Fully owned 1952 33.8
    Being purchased 1691 29.3
    Other tenure type 34 0.6
    Tenure Type
Census 2011, ABS
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