Suburb Profile Report for Riverside TAS (7250)

Riverside House: Median price $325,000, Annual capital growth 2.86%, Number of sales 132, Weekly median advertised rent $330

Riverside Unit: Median price $249,000, Annual capital growth 1.49%, Number of sales 38, Weekly median advertised rent $260

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Over the last year, property investments in Riverside, 7250 have given investors a capital gain of 3.17%. This compares badly with the 7.14% for TAS as a whole.

While Riverside,7250 ranked number 117th in TAS for increase in median house value (annualised) increase, it is ranked 52th over the last 5 years.

Riverside7250 is located in TAS which offers an average discount of -6.16% to property investors. Riverside itself is showing figures that indicate -6.48% is the average achievable by property buyers investing in the suburb.

In the last year 132 properties changed hands in Riverside, which puts it as the 8th most active market in TAS when comparing the number of sales per suburb.

Riverside has had a very poor year for property investment returns compared to the rest of TAS, giving investors a capital gain of -10.79% to date .

The five-year average increase in median property values for Riverside,7250 has given property investors a potential capital gain of 1.22% across each of those five years.

State is the 5th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.24% offered to property buyers. Sellers in Riverside itself are offering an average vendor discount of -5.06% to real estate investors.

Using the current median advertised rental of $260 and the average annual increase in value of a median property of 1.49%, investors should hope to achieve an overall return of 5.43%

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Situated a few kilometres northwest of the CBD, Riverside is Launceston’s largest suburb in terms of population, and is home to several schools, sports grounds and a golf course amongst other things.Full summary

Situated a few kilometres northwest of the CBD, Riverside is Launceston’s largest suburb in terms of population, and is home to several schools, sports grounds and a golf course amongst other things.

Road access to Launceston city centre is good, with the A7 highway running right through Riverside, and on into the CBD.

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Metrics i HOUSE UNIT
$325,000 $249,000
0.00% 0.20%
3.17% -10.79%
2.86% 1.49%
$330 $260
132 38
5.28% 5.43%
84.3 69.86

Source: CoreLogic

DSR Score for property investment : Good (H), Above average (U)
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Demographics
Total population 6072
Median household income ($/weekly) 1152
Median age of persons 40
Median housing loan repayment ($/monthly) 1381
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 834 13.7
    25-34 years 603 9.9
    35-44 years 743 12.2
    45-54 years 920 15.2
    55-64 years 792 13.0
    Others 2180 35.9
    Age Group
    Census Count Percent(%)
    Registered Married 2384 53.0
    Not Married 1725 38.4
    Defacto Relationship 387 8.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5003 85.2
    New Zealand 62 1.1
    Papua New Guinea 70 1.2
    United Kingdom 326 5.6
    Other 123 2.1
    Others 288 4.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 33 0.6
    Christianity 3880 69.0
    Hinduism 42 0.7
    Islam 37 0.7
    No Religion 1611 28.6
    Others 21 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 258 12.3
    $600-$799 225 10.7
    $1,000-$1,249 186 8.9
    $1,500-$1,999 268 12.8
    $2,000-$2,499 201 9.6
    Others 961 45.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1696 35.7
    Not in the labour force 1654 34.8
    Employed, worked part-time 1064 22.4
    Employed, away from work 177 3.7
    Unemployed, looking for work 159 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 332 11.3
    Professionals 717 24.4
    Technicians & trades workers 425 14.5
    Community & personal service workers 352 12.0
    Clerical & administrative workers 400 13.6
    Others 712 24.2
    Occupation
    Census Count Percent(%)
    Pre-school 55 3.7
    Infants/Primary 569 38.2
    Secondary 445 29.9
    Technical or Further Educational Institution 168 11.3
    University or other Tertiary Institutions 224 15.1
    Others 27 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5319 92.4
    Semi-detached, row or terrace house, townhouse 346 6.0
    Flat, unit or apartment 81 1.4
    House or flat attached to a shop, office 6 0.1
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 929 41.1
    Being purchased 811 35.9
    Rented 497 22.0
    Other tenure type 22 1.0
    Tenure Type
Census 2011, ABS
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