North Richmond

POSTAL CODE: NSW, 2754

HOUSE

UNIT

NORTH RICHMOND, 2754 delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.

Average median house prices in NSW have risen as a whole, pulling NORTH RICHMOND, 2754 values up and netting property investors a capital gain of 30% for the past year.

Investors saw the median home price rise to $1,235,000.

Profits due to an upward trend in home prices in the suburb averaged 10.93% per annum over a 3-year period.

NORTH RICHMOND now ranks at the 436th place on a list of fastest growing suburbs in the territory.

Figures from the previous quarter show that capital gains for real estate buyers in NORTH RICHMOND are low, as opposed to average gains per annum over the past five years.

Because of this real estate investors could earn a rental income of $697.5 based on current median home prices.

Regardless, it is expected for properties to spend some time on the market prior to a successful sale. In NORTH RICHMOND, homes and units usually stay on listing for an average of 83 days.

In 2016, 135 properties were sold in NORTH RICHMOND during the past year, making it the 1214th most active market in NSW based on total real estate transactions.

NORTH RICHMOND ranks 314th in NSW when it comes to estimated capital gains experienced by property investors over the past three years.

NORTH RICHMOND, 2754 has a capital gain of 4.9% for the past year, which is lower than average compared to its 44.23% growth within a five-year period.

With the median home price in NORTH RICHMOND sitting at $750,000, and the average rent at $580, property owners could potentially earn a 4.02% increase in gross rental yield.

Property investors have seen a 2.4% gain in NORTH RICHMOND based on an increase in median home prices for the past three months.

A survey of average capital gains or median home price increase in suburbs across the country shows that NORTH RICHMOND, 2754 obtained a 4.61% growth over a ten-year period. It ranks 1010th on our list of suburbs that property investors should look into.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,235,000	$750,000
Growth Report
Median Quarterly	3.35%	2.4%
Median 12 month	30%	4.9%
Median 3 years	32.8%	16.64%
Median 5 years	80.29%	44.23%
10 years average annual	7.58%	4.61%
Weekly media advert. rent	$698	$580
Time on Market	83 days	51.4 days
Gross Rental Yield Percent	2.94%	4.02%

Demographics (Median Values)*

Total Population 5693

Weekly Household Income 1475

Household Size 2.70

Average Age 40

Monthly Loan Repayment 2147

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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