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Greenway

POSTAL CODE: ACT, 2900
HOUSE
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Property investments in GREENWAY fare well against the rest of the country last year, registering a median home price increase of 13.82%.

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

Based on its average 5-year and quarterly capital gains GREENWAY, 2900 saw average growth in the long term.

Real estate investors could earn a rental income of $630 based on current median home prices for the suburb.

It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 80.1 days.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Property investors perceived the median home price rise to $560,000.

GREENWAY ranks 2nd on the list of best yielding suburbs for rental properties in ACT, posting a 5.85% return.

Surburb overview

Greenway is a suburb in the Tuggeranong District of Canberra, bounded by the arterial roads of Drakeford Drive and Athllon Drive. It is surrounded by the suburbs of Kambah, Bonython, Oxley, Monash and Wanniassa. Greenway is located on one of the best postcodes in Canberra.

Gazetted in 1986, the suburb was named after Francis Howard Greenway, an English-born architect whose seminal designs were used for several public infrastructures erected under the government of New South Wales governor Lachlan Macquarie. Greenway was an innovator of his time and implemented designs with Australia’s climate in mind.

Amenities

Though largely known for its ovals, stadiums and fervent sports community, Greenway is home to key facilities in the district. Amenities, which are located along the Lake Tuggeranong inner foreshore, include a number of shops, restaurants and fast food joints, cinemas, a health centre, an arts centre, a rugby club and the Tuggeranong Town Centre.

Suburb growth

Greenway is one of the Canberran suburbs that would see its population swell by nearly 20 per cent in the next three years. Its population currently stands at 1,894, a third of which consists of families. These residents own about a thousand private dwelling spaces in Greenway. The suburb boasts a mixed community of a majority of Australian-born residents and of those born in England, India, Brazil, Hong Kong, Scotland, New Zealand, China, Germany and the Philippines.

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