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Property investors have seen a 3.71% gain in RICHARDSON based on an increase in median home prices for the past three months.
Based on its average 5-year and quarterly capital gains RICHARDSON, 2905 saw average growth in the long term.
The ACT 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 $643,000
Profits averaged 9.36% per annum over a 3-year period, due to an upward trend in home prices in RICHARDSON, 2905.
This means, real estate investors could earn a rental income of $575 based on current median home prices for the suburb.
The gross rental yield in RICHARDSON, 2905 is 4.65%.
An average of 4.75 real estate transactions take place per month in RICHARDSON which translates to 57 per annum.
Richardson is a suburb in the Tuggeranong district of Canberra. Richardson is surrounded by the suburbs of Calwell, Chisholm, Monash, and Gowrie.
The suburb's namesake is Henry Handel Richardson, the pen name of fictionist Ethel Florence Lindesay Richardson. Streets in the suburb were named after women writers.
Based on the latest census data, Richardson's population totals 3,006, with a median age of 35 years. Over 70 per cent of its residents were born in Australia, while the rest were from England, New Zealand, India, China, and Germany.
Private dwellings comprise over 90 per cent of residential spaces in Richardson — a mere 6 per cent are unoccupied. A majority of the dwelling structures in the suburb are separate houses, followed by semi-detached homes or townhouses, which make up less than 4 per cent. Apartment units are non-existent in the suburb.
The average house price is $510,000, recognising a 10 per cent growth, based on the latest property data. Income from rental properties has increased by 4.69 per cent during the same period.
Things to do in Richardson
Along Johnston Drive is the Tuggeranong Homestead, a heritage-listed site that has grown famous not just for its history, but for being the centre of events in the suburb. The homestead can be hired as a venue for private events and it organises a Sunday market for residents. Richardson has a neighbourhood oval for sporting activities and local scout meetings.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||7.17%||N/A|
|Median 3 years||28.09%||N/A|
|Median 5 years||41.32%||N/A|
|10 years average annual||4.34%||N/A|
|Weekly media advert. rent||$575||N/A|
|Time on Market||24.7 days||N/A|
|Gross Rental Yield Percent||4.65%||N/A|