ACT Reports Progress Of ‘Better Suburbs’
The ACT government has delivered an update on its “Better Suburbs” plan, detailing the headway that has been made to...
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 1.33% for the past year.
Investors saw the median home price rise to $572,500.
Profits due to an upward trend in home prices in the suburb averaged 5.69% per annum over a 3-year period.
RICHMOND now ranks at the 309th 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 $400 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 41.5 days.
In 2016, 49 properties were sold in RICHMOND during the past year, making it the 147th most active market in SA based on total real estate transactions.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||1.33%||-2.01%|
|Median 3 years||17.08%||1.22%|
|Median 5 years||21.55%||47.16%|
|10 years average annual||2.74%||4.44%|
|Weekly media advert. rent||$400||$390|
|Time on Market||41.5 days||62.4 days|
|Gross Rental Yield Percent||3.63%||4.89%|