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 9.6% for the past year.
Investors saw the median home price rise to $1,518,000.
Profits due to an upward trend in home prices in the suburb averaged 13.74% per annum over a 3-year period.
GRIFFITH now ranks at the 22nd 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 95.2 days.
In 2016, 49 properties were sold in GRIFFITH during the past year, making it the 26th most active market in ACT based on total real estate transactions.
GRIFFITH ranks 50th in ACT when it comes to estimated capital gains experienced by property investors over the past three years.
GRIFFITH, 2603 has a capital gain of -13.18% for the past year, which is lower than average compared to its 9.05% growth within a five-year period.
With the median home price in GRIFFITH sitting at $458,000, and the average rent at $460, property owners could potentially earn a 5.22% increase in gross rental yield.
Property investors have seen a -2.55% drop in GRIFFITH based on a decrease in median home prices for the past three months.
A survey of average capital gains or median home price increase in suburbs across the country shows that GRIFFITH, 2603 obtained a 3.43% growth over a ten-year period. It ranks 930th on our list of suburbs that property investors should look into.