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