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AREA REPORTS

Richmond

Suburb Profile

Richmond - FREE SUBURB PROFILE REPORT
POSTAL CODE: VIC,3121

house
unit

Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.

The suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $1,175,000.

The upward trend in home prices in RICHMOND, 3121 averaged 1.95% per annum over a 3-year period.

Average weekly rents on listings have reached the $695 mark, reflecting a 3.08% increase in returns based on the current median price in RICHMOND.

An average of 17.75 real estate transactions take place per month in RICHMOND which translates to 213 per annum.

213 properties were sold in RICHMOND in 2016, making it the 436th most active market in VIC based on total real estate transactions.

RICHMOND, 3121 places 357th in Australia based on median property value growth during the quarter.

Data report can be found below

KEY PROPERTY DATA REPORT HOUSE UNIT
Median Price $1,175,000 $603,500
GROWTH REPORT
Median Quarterly 0.43% 1.43%
Median 12 month -6% 4.05%
Median 3 years 5.86% 10.73%
Median 5 years 23.88% 9.73%
10 years average annual 5.9% 2.96%
Weekly media advert. rent $695 $480
Time on Market 46.8 days 62.0 days
Gross Rental Yield Percent 3.08% 4.14%
demographics (median values)
Total Population
22476
Weekly Household Income
1197
Household Size
2.10
demographics
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