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Riverside

POSTAL CODE: TAS, 7250
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Property investors enjoyed capital gains of 9.31% over the last 12 months in RIVERSIDE, translating to lower returns compared with its peers in TAS.

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

The suburb posted a 13.11% growth in median prices over a three-year period. This is considerably lower than the gains it recorded over the past year.

This number can mean, real estate investors could earn a rental income of $522.5 based on current median home prices for the suburb.

On average, rents on listings have reached the $522.5 mark, reflecting a 3.94% increase in returns based on the current median price in RIVERSIDE.

RIVERSIDE, 7250 ranks 56th in TAS in terms of median property value increase and capital gains, based on year-to-date figures.

While it ranks 83rd on the list of best yielding suburbs for rental properties in TAS, posting a 3.94% return.

Surburb overview

Riverside, with the postcode 7250, is a picturesque suburb located approximately 5 kilometres northwest of Launceston’s central business district in Tasmania. Known for its scenic views of the Tamar River, family-friendly environment, and convenient access to urban amenities, Riverside offers a comfortable and attractive lifestyle for its residents. The population of Riverside is around 6,500 residents, comprising a mix of families, professionals, and retirees who appreciate the suburb’s serene setting and community-oriented atmosphere.

Riverside falls under the jurisdiction of the West Tamar Council, which ensures well-maintained infrastructure and community services. Public transportation is well-served by Metro Tasmania buses, providing regular services to Launceston’s CBD and surrounding suburbs, making commuting convenient for residents. The suburb is also easily accessible by car via the West Tamar Highway.

Educational facilities in Riverside are comprehensive, catering to families with children of all ages. These include Riverside Primary School, Riverside High School, and Launceston Christian School, offering education from early childhood through to Year 12. For higher education, residents have easy access to the University of Tasmania’s Newnham campus and various vocational training centres in Launceston.

For shopping and essential services, Riverside offers a variety of local shops, supermarkets, cafes, and dining options. The Riverside Shopping Centre serves as a focal point for retail and community services, featuring a range of stores that cater to everyday needs. Additionally, the nearby Launceston CBD provides more extensive shopping, dining, and entertainment facilities.

Riverside is rich in recreational activities, with numerous parks, reserves, and green spaces enhancing the suburb’s appeal. Windsor Park is a popular local spot featuring sports fields, playgrounds, walking trails, and picnic areas, making it ideal for family outings and outdoor activities. The nearby Tamar Island Wetlands Reserve offers excellent opportunities for birdwatching, walking, and enjoying the natural beauty of the area.

Residents of Riverside benefit from its proximity to Launceston, allowing easy access to the city’s cultural and recreational attractions, including the Queen Victoria Museum and Art Gallery, the Cataract Gorge Reserve, and the Launceston Aquatic Centre. The scenic Tamar Valley, known for its wineries and vineyards, is also easily accessible, providing opportunities for wine tasting and exploring the region’s natural beauty.

Community engagement is strong in Riverside, with various local events and activities fostering a sense of connection and social interaction. The suburb’s parks and community centres host numerous programs and events, providing opportunities for residents to come together and enjoy the vibrant community spirit.

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