GRIFFITH, 2603 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in ACT have risen as a whole, pulling GRIFFITH, 2603 values up and netting property investors a capital gain of 8.52% for the past year.
Investors saw the median home price rise to $1,432,500.
Profits due to an upward trend in home prices in the suburb averaged 10.25% per annum over a 3-year period.
GRIFFITH now ranks at the 30th 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 $972.5 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 80.2 days.
In 2016, 46 properties were sold in GRIFFITH during the past year, making it the 29th most active market in ACT based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||8.52%||2.96%|
|Median 3 years||30.76%||15.38%|
|Median 5 years||14.6%||24.7%|
|10 years average annual||5.8%||5.51%|
|Weekly media advert. rent||$972.5||$440|
|Time on Market||80.2 days||72.0 days|
|Gross Rental Yield Percent||3.53%||4.36%|