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MOMENTUM
MEDIA
RICHMOND, 5033 delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.
Average median house prices in SA have risen as a whole, pulling RICHMOND, 5033 values up and netting property investors a capital gain of 18.96% for the past year.
Investors saw the median home price rise to $928,500.
Profits due to an upward trend in home prices in the suburb averaged 19.35% per annum over a 3-year period.
RICHMOND now ranks at the 213th 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 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 $650 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 RICHMOND, homes and units usually stay on listing for an average of N/A.
In 2016, 16 properties were sold in RICHMOND during the past year, making it the 149th most active market in SA based on total real estate transactions.
Richmond, located approximately 4 kilometres west of Adelaide’s central business district, is a well-established and diverse suburb in the City of West Torrens. With a population of around 3,500 people, Richmond offers a mix of residential, commercial, and industrial areas. The suburb attracts a wide range of residents, including young professionals, families, and retirees, due to its proximity to the city and access to essential services.
Richmond benefits from excellent public transportation, with multiple bus routes connecting the suburb to Adelaide’s CBD and surrounding areas. The suburb is also conveniently located near key arterial roads such as South Road and Richmond Road, making it easily accessible by car. Its close proximity to the Adelaide Airport, which is only a 10-minute drive away, adds to its appeal for frequent travellers.
The suburb offers a variety of essential amenities. Richmond has local shopping strips with supermarkets, retail shops, cafes, and restaurants, catering to the daily needs of its residents. Larger shopping precincts, such as the nearby Mile End Homemaker Centre and Westfield West Lakes, are within easy reach for more extensive retail options. Schools in and around Richmond include Cowandilla Primary School and St. John Bosco School, making it suitable for families with children. Healthcare facilities, including medical clinics and pharmacies, are readily available, while the Ashford Hospital is just a short drive away.
Recreational activities in Richmond are plentiful, with several parks and green spaces providing areas for outdoor activities. The nearby West Torrens Memorial Gardens and Richmond Oval offer facilities for sports and community events. The suburb’s proximity to the vibrant Adelaide Central Market and the cultural precincts of North Terrace make it an ideal location for those who enjoy easy access to the city’s dining, arts, and entertainment scenes. Richmond’s balance of suburban comfort, urban convenience, and connectivity make it a desirable location for a variety of residents.