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Griffith City, NSW

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Griffith is a local government area in south-western New South Wales. The LGA’s property market is quite small and mostly consists of family homes. The real estate here is relatively affordable, with the house sale prices below the state average. There are a few new developments popping up, but the market is still quite traditional.

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The Griffith City economy is based largely on agriculture and agribusiness. The city is home to a number of major food processing plants, and its rural location keeps land and labour costs relatively low. The city also has a significant tourism industry, thanks to its location on the banks of the Murrumbidgee River.

Labourers (17.9 %), Managers (15.4%), Technicians and Trades Workers (13.8 %), Professionals (13.2 %), and Clerical and Administrative Workers (11.7 %) are the most frequent jobs in Griffith.

Griffith’s typical weekly personal income for residents aged 15 years and older is $674.

In Griffith, 83.5 % of occupied private residences are detached houses, 4.8 % are semi-detached, row or terrace houses, townhouses, or other dwellings, 9.9 % are flats or apartments, and 1.1 % are other housing.

The local real estate market has been growing steadily over the past few years, and is expected to continue doing so in the future. There are a number of good investment opportunities in the area, including both residential and commercial properties. Griffith City is also a great place to live, with plenty of amenities and a thriving community.

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Suburb Heatmap Analysis

Property Market Snapshot

This page provides an overview of the LGA real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this council area. You are able to drill down to suburb-level data and charts which visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

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Rent 

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Yield 

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Buy 

1BR

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Rent 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

Have a question? You can either leave a comment below or post it on our forum.

Property Market in Griffith City Council, NSW

What other property markets are there near Griffith City Council, NSW?

Griffith City Council is surrounded by 3 other council areas – Murrumbidgee, Narrandera, Leeton.

How many people live in Griffith City Council, NSW?

There are approximately 19000 people living in roughly 8000 dwellings in total, with an average household size of 2.6.

What are current and planned infrastructure projects in Griffith City Council, NSW?

Notable infrastructure projects include Griffith Regional Sports Precinct, Griffith Community Centre, Yambil Street Upgrade, Griffin Green – Affordable Housing Project, Wood Park Redevelopment, Griffith Housing Strategy, Community Gardens – Stage Project, Gralc Redevelopment.

What major retailers are there in Griffith City Council, NSW?

The main retail centres are Griffith Central, Griffin Plaza, Target Griffith, The Reject Shop.

What is the main industry in Griffith City Council, NSW?

Such sectors as Manufacturing, Retail Trade, Agriculture, Forestry and Fishing make up the largest part of the employment.

What are the dominant demographic groups in Griffith City Council, NSW?

Among approximately 19000 people in Griffith City Council males and females make roughly 50% of each group. The median age of people is 36 years. Children aged 0-14 years account for approximately 21% of the population, and those aged 65+ years account for 17%.

How is unemployment rate trending in Griffith City Council, NSW?

Among approximately 9000 people employed, roughly 62% work full-time, 28% work part-time, and an estimated 5% are unemployed.

Suburbs/localities in this Local Government Area: Griffith 2680, Hanwood 2680, Kooba 2680, Lake Wyangan 2680, Beelbangera 2680, Benerembah 2680, Nericon 2680, Bilbul 2680, Tabbita 2652, Tharbogang 2680, Warburn 2680, Warrawidgee 2680, Whitton 2705, Widgelli 2680, Willbriggie 2680, Yoogali 2680n Valley 2641, Lake Hume Village 3691, Lavington 2641, Albury 2640, North Albury 2640, South Albury 2640, Splitters Creek 2640, Springdale Heights 2641, Thurgoona 2640, West Albury 2640, Wirlinga 2640

2 thoughts on “Griffith City Council, NSW”

  1. Are you a real estate professional with an extensive knowledge of the Griffith property market? What is the outlook of the market from your point of view? Our members would love to hear from you! Share your insights in a comment below.

  2. Griffith, NSW seems to be a great area to invest in if you are looking to balance your heavily geared portfolio with property that has decent cash flow potential.

    Even though the gross yield seems to be on the lower side at the moment, the balance between the supply a demand metrics for Griffith suggest an upward pressure on rents which supports our projected annual rental increase of 4%.

    With a much lower risk score to other areas with a higher gross rental yield, our research indicates that Griffith would represent a solid addition to a heavily geared investment property portfolio.

    WHY:

    With a Relative Composite Score (RCS) of:
    1. 75 / 100 for risk;
    2. 91 / 100 for cashflow;
    3. 79 / 100 score for overall.

    The low-risk component, which is represented by the higher risk score number (71), makes Griffith an appealing area to invest in and in comparison, to other high yield areas. Given that high yield areas are usually accompanied with a high-risk component, a risk score of 71 and a cash flow score of 91 is a perfect indication of balance between cashflow and risk which is usually very hard to obtain.

    Other important metrics to consider:

    Fundamentals

    ISRAD score: 4 — the relatively balanced score of 4 is indicative of solid market fundamentals. The socio economic make up of the areas suggests that there is enough ‘money’ in the area to maintain the historic level of growth.

    R|O Ratio: 33% — this relatively balanced score in the renter to owner occupier ratio is suggestible of longer hold periods and therefore a restricted supply of properties. This suggests that at times of positive macroeconomic conditions and lower interest rates, demand levels would usually outpace supply levels which is suggestible of an upward pressure on pricing.

    U|H Ratio: 5% — this rather opportunistic figure in the unit to hour ratio supplements the previous comment that suggests Griffith has a large population of owner occupiers that hold onto their homes for longer which can have a positive effect on price growth due to the imbalance between supply and demand.

    Supply Metrics

    SoM%: 0.04% — this is an opportunistic number and suggests reduced levels of stock are present on the market therefore restricting the supply levels.

    Inventory: 1.58 — akin to Som%, this figure is also opportunistic. The graph above highlights a slow decline of stock available on market.

    Hold Periods: 6.75 years — this is a relatively balanced number which suggests continued downward pressure on the supply of houses when assessed in combination with other supply metrics. Most importantly, the constant rise in the hold period years since 2008 provide a favourable trend.

    Building Approvals Ratio: 0.83% — this relatively balanced metric indicates that the introduction of new properties to the market is not exuberant and as such one that would dramatically affect the levels of supply so that it has an inverse effect on price. Assessing BA in conjunction with Som% and Inventory levels suggest a market with restricted supply of properties. Restricted supply = price growth if demand is stable or increasing.

    Demand Metrics

    DoM: 19 — this is an opportunistic figure and one that indicates an increasing demand. The fact that demand has been increasing is also evident in the graph above which shows a steep reduction in the days on market data since 2020. Very opportunistic.

    Vacancy Rate: 0.07%. This is an opportunistic figure that in combination with DoM highlights a market that has an upward pressure on demand.

    Buy Search Index: 3 (relatively balanced)

    Overall, in my view, this makes Griffith a hidden gem. We have a high low risk environment combined with restricted supply metrics and increasing demand metrics. This suggests that the cashflow projection is not only more of a certainty but there is also potential to experience capital growth in this market.

    Great area to invest in 2023 for those looking to spend sub 700k typical price for property and implementing a cashflow strategy.

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