Property value increases in Richmond have tracked close to the SA average of 2.92% over the last 12 months.
Richmond,5033 was ranked 2158 in Australia by increase in median property value over the quarter.
At number 381th of SA’s most discounted properties, Richmond is in the TOP 10% of the state/territory when listing in order of most discounted to least.
A $385 per week rent on the median house gives suburb investors a gross yield of circa 4.15%, without taking into account capital value appreciation, which has been averaging out at 4.59%.
Investment property in Richmond has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 27.97%
Taking the average capital gain, or increase in median house value, Richmond,5033 has racked up an average of 27.97% over the period. This ranks it number 1181th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Richmond 5033 should be seeing an average reduction in asking price of around -9.16% . This means that Richmond is holding prices well when compared to other suburbs in SA.
In the last year 22 properties changed hands in Richmond, which puts it as the 87th most active market in SA when comparing the number of sales per suburb.
With the median price for a house in Richmond being $350000 and the advertised rent reaching $320 the gross rental yield for property investors calculates out to be 4.75%