AREA REPORTS

Griffith

 

 

ACT/
Griffith

Suburb Profile

Griffith - FREE SUBURB PROFILE REPORT
POSTAL CODE: ACT,2603

house
unit

GRIFFITH, 2603 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Investors saw the median home price rise to $1,410,000.

Profits due to an upward trend in home prices in the suburb averaged 3.1% per annum over a 3-year period.

GRIFFITH now ranks at the 80th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in GRIFFITH are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $800 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In GRIFFITH, homes and units usually stay on listing for an average of 56.1 days.

In 2016, 65 properties were sold in GRIFFITH during the past year, making it the 17th most active market in ACT based on total real estate transactions.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,410,000 $455,000
GROWTH REPORT
Median Quarterly -3.75% 1.73%
Median 12 month -2.08% 1.11%
Median 3 years 9.3% -6.19%
Median 5 years 34.35% 1.56%
10 years average annual 4.82% 3.41%
Weekly media advert. rent $800 $460
Time on Market 56.1 days 70.3 days
Gross Rental Yield Percent 2.95% 5.26%
demographics (median values)
Total Population
3905
Weekly Household Income
1680
Household Size
2.10
demographics
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