Richmond is an average performer in NSW when comparing median price capital growth over the last year. Richmond gave property investors a average capital gain figure when compared to the rest of the state, with 11.90%.
While Richmond,2753 ranked number 418th in NSW for increase in median house value (annualised) increase, it is ranked 203th over the last 5 years.
Property investors looking for a bargain in Richmond should be aiming for at least -3.68% off the asking price, which is the average vendor discount being achieved at the moment.
A $435 per week rent on the median house gives suburb investors a gross yield of circa 3.21%, without taking into account capital value appreciation, which has been averaging out at 7.72%.
At number 600th in the list of Australian suburbs ordered by increase in median house value over the last year, Richmond, 2753 is in the top 40% with a property value increase of 8.04% recorded in median house prices.
When looking at the potential capital gains offered to property investors over the last 3 years, Richmond comes in at number 123th in NSW.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.13% offered to property buyers. Sellers in Richmond itself are offering an average vendor discount of -3.81% to real estate investors.
Advertised rents are around the $370 mark per week – giving a return of 3.87% based on the median price in Suburb