Investment property in Richmond has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 1.60%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Richmond has increased when compared to the 5 year average annual rate.
Property buyers and investors in Richmond 5033 should be seeing an average reduction in asking price of around -4.48% . This means that Richmond is holding prices well when compared to other suburbs in SA.
In the last year 55 properties changed hands in Richmond, which puts it as the 169th most active market in SA when comparing the number of sales per suburb.
Advertised rents are around the $380 mark per week – giving a return of 4.16% based on the median price in Suburb
Over the last year, property investments in Richmond, 5033 have given investors a capital gain of -17.06%. This compares very badly with the 4.28% for SA as a whole.
Over the longer term, Richmond has seen property prices show investors a -17.06% return over the last 3 years. This is the same as over the last 12 months
Our latest figures would indicate that property sellers in Richmond are currently offering property investors an average price cut of -10.04% below the asking price at the moment.
Situated 3.36km from the CBD, Richmond is one of West Torrens localities in the postcode 5033.