Suburb Profile Report for Riverside TAS (7250)

Riverside House: Median price $315,000, Annual capital growth 2.56%, Number of sales 122, Weekly median advertised rent $323

Riverside Unit: Median price $269,558, Annual capital growth 3.19%, Number of sales 32, Weekly median advertised rent $263

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

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Investment property in Riverside has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 8.81%

While Riverside,7250 ranked number 89th in TAS for increase in median house value (annualised) increase, it is ranked 34th over the last 5 years.

Our latest figures would indicate that property sellers in Riverside are currently offering property investors an average price cut of -8.30% below the asking price at the moment.

Property investors should expect to get $322.5 weekly from the median priced house in this suburb.

If you compare the increase in value of investment property in Riverside, 7250 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this TAS suburb was 15.69%.

Riverside,7250 was ranked 54 in Australia by increase in median property value over the quarter.

Property buyers and investors in Riverside 7250 should be seeing an average reduction in asking price of around -8.36% . This means that Riverside is holding prices well when compared to other suburbs in TAS.

Often selling an investment property can take time, and in Riverside the average time real estate has been on the market is 123.54 days.

With the median price for a house in Riverside being $269558 and the advertised rent reaching $262.5 the gross rental yield for property investors calculates out to be 5.06%

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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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HOUSE UNIT
$315,000 $269,558
0.00% 11.39%
8.81% 15.69%
2.56% 3.19%
$323 $263
122 32
5.32% 5.06%
89.67 123.54

Source: CoreLogic

DSR Score for property investment : Above average (U), Good (H)
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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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