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 2.16% for the past year.
Investors saw the median home price rise to $485,250.
Profits due to an upward trend in home prices in the suburb averaged 1.27% per annum over a 3-year period.
RICHMOND now ranks at the 123rd 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 $420 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 55.8 days.
In 2016, 36 properties were sold in RICHMOND during the past year, making it the 211th most active market in SA based on total real estate transactions.
RICHMOND ranks 44th in SA when it comes to estimated capital gains experienced by property investors over the past three years.
RICHMOND, 5033 has a capital gain of 6.67% for the past year, which is higher than average compared to its 22.35% growth within a five-year period.
With the median home price in RICHMOND sitting at $416,000, and the average rent at $310, property owners could potentially earn a 3.88% increase in gross rental yield.
A survey of average capital gains or median home price increase in suburbs across the country shows that RICHMOND, 5033 obtained a 5.65% growth over a ten-year period. It ranks 582nd on our list of suburbs that property investors should look into.