Griffith

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NSW's Griffith residential market is approaching its peak, according to Herron Todd White’s April report.
The property valuation firm says that values have increased over the past six to nine months.
“The Griffith residential property market appears to be approaching the peak of the market.
"Values have been increasing in most market segments over the past six to nine months largely due to a shortage of stock relative to demand.
"The fear of missing out is pushing more affordable brackets ($250,000 to $350,000) well above expectations.
"The rise in the market is not limited to entry and middle market segments with buyers in the upper end of the market also showing a strong appetite producing strong results,” the report stated.
Low interest rates, shortage of land and optimism is driving the market at the present moment.
“So what is driving the market at present?
"A combination of things, including low interest rates, a shortage of land and the biggest factor being the optimism in the local agricultural sector and its impact on employment and investment.
"So what is likely to slow it down?
"The cost of money rising (interest rates), employment instability, the release of more land and the inability of the economy to retain its confidence,” the report warned.
A two bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-griffith-125329774" target="_blank">14B Grimison Avenue</a>, Griffith (above) has been listed for $249,000.
Similarly a three bedroom house at <a href="https://www.realestate.com.au/property-house-nsw-griffith-125255310" target="_blank">62 Madden Drive</a>, Griffith (below) has been listed for $349,000.
The block of land was sold in 2015 for $95,000 with the house built in 2016.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/62%20Madden%20Drive.jpg" alt="">
A three bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-griffith-125166842" target="_blank">6 Evanside Parade</a>, Griffith (below) was recently sold for $300,000.
It was last sold in 2012 for $252,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/6%20Evanside%20Parade.jpg" alt="">
Similarly a four bedroom house at <a href="https://www.realestate.com.au/sold/property-house-nsw-griffith-125074086" target="_blank">72 Bromfield Street</a>, Griffith (below) was recently sold in April this year for $300,000.
It was last sold in 2008 for $282,500 and in 1996 for $147,000.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2017/05/16/72%20Bromfield%20Street.jpg" alt="">
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Griffith's residential market approaching its peak: HTW

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Griffith Central, the largest shopping centre in Griffith in the NSW Riverina region, has been listed for sale.
The centre at <a href="http://commercialpropertysearch.savills.com.au/f50bad55-9158-e811-80e4-005056816353/Sale/Griffith/10-12-Yambil-St" target="_blank">10-12 Yambil Street</a> opened in 2007 and is anchored by Ritchies Supa IGA and Target and mini majors Chemist Warehouse and Cotton On.
It is supported by a further 31 stores and includes a 200 seat food court.
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2018/6/20/grif2.jpg" alt="">
Griffith Central attracts over 1.25 million customers annually, equating to 23,000 per week.
It has a fully leased net income over $2,165,551 per annum across its 11,520 sqm lettable area.
Expressions of interest close July 4 through Savills agents Jonathan Tyson and Steven Lerche.
 
 
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