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A steady increase in median property prices over a five-year period in the suburb translates to a 3.33% capital gain.
Property investors in GRIFFIN enjoyed capital gains of 3.67% over the last 12 months translating to lower returns compared with its peers in the territory.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $480,500.
Profits due to an upward trend in home prices there averaged 1.11% per annum over a 3-year period.
Home owners selling their properties and realtors in GRIFFIN usually have to wait an average of 55.8 days days before their assets are lifted off the market.
Average weekly rents on listings have reached the $420 mark, reflecting a 4.55% increase in returns based on the current median price in GRIFFIN.
GRIFFIN, 4503 places 599th in Australia based on median property value growth during the quarter.
Griffin is a coastal suburb located north of Brisbane and bordered by Murrumba Downs to the east and Mango Hill to the north. It was named after the Griffin family, a Scottish family who was one of the first people to form settlements in Brisbane and ran properties that cover land from Terrors Creek to the Caboolture River.
Getting in and out
Griffin’s accessibility is frequently mentioned as a plus: there’s Bruce Highway, for getting in and out of Griffin via private car, and other major roads such as Brays and Henry Road. Commuting to the city is also convenient due to its extensive bus and train routes. It is also just a quick drive to North Drive and Murrumba Downs where amenities are more varied.
Recreational spaces perfect for family picnics, jogging and sports activities are not lacking in the area. Fishing enthusiasts can collect the day’s freshest catch at land-based fishing spots throughout the suburb. If the weather permits, they can also take advantage of the nearby North Pine River which extends into the vast Moreton Bay.
Property price movements
Prices of homes for sale in Griffin, as well as units, have risen in the past five years. Aside from fully constructed properties, large swathes of green wedge, where new communities could soon rise, are up for bids as well.
Griffin hasn’t shed its rural charm to this day and features a mix of farmland and residential developments. Residents have nothing but good things to say about their neighbourhoods, with Freshwater Estate topping the recommendations.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3.67%||3.48%|
|Median 3 years||3.33%||-13.11%|
|Median 5 years||10.08%||-17.12%|
|10 years average annual||1.65%||-2.13%|
|Weekly media advert. rent||$420||$350|
|Time on Market||55.8 days||76.9 days|
|Gross Rental Yield Percent||4.55%||5.97%|