Demand For Homes Stays High In 1 State While The Rest Fall Back
Rising interest rates have eased demand from potential buyers, which has been reflected in the slowing of home price gro...
A steady increase in median property prices over a five-year period in the suburb translates to a 15.28% capital gain.
It 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 $830,000
The augmented property values in the suburb are trailing behind the territorial average of 23.63% in 2016.
On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $480.
Home owners selling their properties and realtors in RICHMOND usually have to wait an average of 68.5 days days before their assets are lifted off the market.
The NSW suburb ranks 520th on the list of best yielding suburbs for rental properties in NSW, posting a 3.01% return.
It also places places 526th in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||18.74%||23.23%|
|Median 3 years||15.28%||14.14%|
|Median 5 years||27.69%||17.1%|
|10 years average annual||8.76%||6.62%|
|Weekly media advert. rent||$480||$390|
|Time on Market||68.5 days||61.8 days|
|Gross Rental Yield Percent||3.01%||3.59%|