With a capital gain of 3.75% for the last 12 months, Riverview, 4303 has performed for property investments than its average annual 1.68% property growth over the last 5 years.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Riverview has increased when compared to the 5 year average annual rate.
Riverview, 4303 is offering QLD ‘s 601th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 30% of discounts offered by this QLD.
In the last year 57 properties changed hands in Riverview, which puts it as the 413th most active market in QLD when comparing the number of sales per suburb.
One of PRDnationwide’s top picks, the suburb of Riverview conveniently sits along the rail and road corridor between Ipswich and Brisbane. Full summary
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Another one of PRDnationwide’s top picks, the suburb of Riverview conveniently sits along the rail and road corridor between Ipswich and Brisbane.
Sales activity here has been stable, says PRDnationwide’s Josh Brown, but prices have softened, making Riverview a great pick for affordability.
Riverview’s traditionally been a good performer in terms of capital growth. While it’s been in the doldrums on that front in recent times thanks to flood and economy woes, Brown believes that its location will drive further growth in the long term.
“This suburb is well located along transport corridors connecting Brisbane to one of the fastest growing cities in the South East and it is expected to achieve strong growth in the future,” he says.
Certainly having its own train station and being right next to the Ipswich motorway puts Riverview up there on the accessibility front. Ipswich is around 20 minutes away by car or train, while Brisbane’s more like a 30- or 40-minute journey.
Hot Property Specialists’ Liz Wilcox notes that it’s largely a lower socioeconomic area with a lot of families and single mums. Looking at 2006 Census data, average weekly family incomes come in lower that the Queensland average ($796 vs $1123), and 54% of the suburb’s population are renters. SQM Research expects this second figure to rise to 77% over the next five years.
“It’s an affordable area with a lot of older ex housing commission homes,” notes Wilcox. “You can pick up a three-bedroom, one-bathroom house for under $300,000.”
She adds that parts of the suburb were flooded at the beginning of 2011, so it’s worth bearing this in mind when looking at property close to the river.