Riverside, 7250 ranked 68th in TAS when comparing growth in median property values or capital gain over the last 12 months. Riverside is one of 606 in our list for TAS
The five-year average increase in median property values for Riverside,7250 has given property investors a potential capital gain of 22.36% across each of those five years.
Property investors looking for a bargain in Riverside should be aiming for at least -7.08% off the asking price, which is the average vendor discount being achieved at the moment.
Residents and property investors in Riverside have been waiting around 79.38 days to sell a property.
Using the current median advertised rental of $330 and the average annual increase in value of a median property of 3.16%, investors should hope to achieve an overall return of 5.10%
TAS has seen average median house prices change by 3.60% which means that Riverside, 7250 has done well for property investors by showing a capital gain of -3.85% over the last year
Comparing Riverside,7250 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Riverside is offering property investors an average of -5.25. This rate of discount on properties puts Suburb at number 16th in terms of most discounted suburbs in TAS
With the median price for a house in Riverside being $262000 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.16%
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
Information supplied by:
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.