414/2 Gribble Street, Gungahlin ACT 2912
414/2 Gribble Street, Gungahlin ACT 2912
Rare 2/2/1 configuration | 2020 Jade build on level 4 | 12 sqm balcony | Resort amenities and secure parking | Rental demand $510-$570 per week
This 2020-built unit is positioned on level 4 with a 12 sqm balcony, and a 2 bed, 2 bath, and 1 car configuration is offered, which is known to be rare in a suburb where older 2/1/1 apartments are more typical. The property is finished with double glazing, 2.7m ceilings, and split-system climate control, making it a genuinely contemporary and move-in ready option. It is best suited to first-home buyers, young professionals, and downsizers who value lift access, secure parking, storage, and resort-style amenities such as the pool and rooftop terrace. The rental evidence here is strong, with 2-bed units leasing at $510-$570 per week, so investor demand is also well supported.
The value of this unit may be influenced by its aspect and by the broader supply of similar 2/2/1 stock in the building. Price might be supported by the newer build age and the in-demand feature set, but a premium over basic 2/1/1 units is only reasonable if the layout and balcony are well proportioned. Rental yields could be affected by strata fees and the specificity of the buyer pool, so these must be weighed carefully before forming a view on price.
>> Comparable Sales: 201/2 Gribble Street sold $410k; 601/2 Gribble Street sold $560k | Property Price Band: $500k to $600k | Value Drivers: modern finishes, two-bathroom layout, secure parking
Detailed Independent Property Report prepared by PropCred Analyst team for 414/2 Gribble Street, Gungahlin ACT 2912
Checks found:
Value Risk
✓
Liquidity Risk
!
1
Planning Risk
!
1
Income Risk
!
1
Execution Risk
✓
Market Insight
Gungahlin presents a two-speed market. Houses show resilience, with medians between $965,000 and $1.0 million and annual growth of 2.3–4.4% across sources, while units range from $425,000 to $464,846, with one source showing 3.4% growth but two others posting declines of 2.1% and 4.0%. Houses sell faster, averaging 48 days on market versus 76 days for units, with 60 house sales and 155 unit sales in the past year. Demand for units is yield-driven: gross rental yields hit 6.17–6.5%, versus 4.25% for houses, and median unit rent sits at $530 weekly. That yield premium suggests investor appetite, while houses likely attract owner-occupiers despite lower returns. The divergence in unit price data and slower turnover signals softer conditions in that segment, a key risk. Overall, Gungahlin’s house market holds its ground, but unit pricing faces downward pressure.
PropCred Estimated Value
Bedrooms
2
Bathroom
2
Parking
1
Land
2193m²
Research & Review
Prepared by Steve Dalton, Senior Analyst
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Reviewed by Matt Proctor, Principal Analyst