AREA REPORTS

Richmond

 

 

VIC/
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 $1,202,500.

The upward trend in home prices in RICHMOND, 3121 averaged 3.95% per annum over a 3-year period.

Average weekly rents on listings have reached the $677.5 mark, reflecting a 2.93% increase in returns based on the current median price in RICHMOND.

An average of 22.5 real estate transactions take place per month in RICHMOND which translates to 270 per annum.

270 properties were sold in RICHMOND in 2016, making it the 351st most active market in VIC based on total real estate transactions.

RICHMOND, 3121 places 515th 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 $1,202,500 $585,000
GROWTH REPORT
Median Quarterly -3.8% 1.65%
Median 12 month -3.92% 1.74%
Median 3 years 11.86% 4.32%
Median 5 years 33.54% 2.85%
10 years average annual 6.12% 3.19%
Weekly media advert. rent $677.5 $480
Time on Market 42.3 days 48.1 days
Gross Rental Yield Percent 2.93% 4.27%
demographics (median values)
Total Population
22476
Weekly Household Income
1197
Household Size
2.10
demographics
select a category
Age group
Top 10 Birth Countries
Dwelling Structures
Education
Household Income
Labour Force
Marital Status
Occupation
Religious Affiliation
Tenure Type

Subscribe to get the latest news and updates

Heavy clouds near house

The biggest mistakes first-time investors can make

No matter if you are a first-time investor or a veteran in the market, there are some aspects of investing that are universal to all. That...

Aerial shot of property and Scott Morrison

How investors are reacting one week after the election

With the federal election making way for a Liberal win, property investors saw proposals to negative gearing taken out of the equation for t...

Perth

New lending changes predicted to boost WA market, investors

Proposed changes by the prudential regulator would have a great impact for Western Australia’s property market and investors in the market...

Aerial shot of property

Halving stamp duty is the only solution to housing affordability

Australians looking to move up the property ladder are being hindered by a population spending too long in the wrong-size homes. To have a m...

Helping hand

Why investors should seek help from professionals instead of flying solo

Nobody wants to be stressed out by juggling multiple commitments, particularly for property investors with properties that can stay with the...

Arjun Paliwal

How this investor built a 9-property portfolio in 4 years

Investor Arjun Paliwal was only 22 years old when he started building his property portfolio. Now at 26, he holds nine properties spread acr...

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.