At number 2111th in the list of Australian suburbs ordered by increase in median house value over the last year, Richmond, 3121 is in the BOTTOM 50% with a property value increase of 5.94% recorded in median house prices.
While Richmond,3121 ranked number 609th in VIC for increase in median house value (annualised) increase, it is ranked 213th over the last 5 years.
Our latest figures would indicate that property sellers in Richmond are currently offering property investors an average price cut of -4.00% below the asking price at the moment.
Situated 3.49km from the CBD, Richmond is one of Yarra localities in the postcode 3121.
If you compare the increase in value of investment property in Richmond, 3121 to the rest of Australia, it performed somewhat poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -1.79%.
Over the longer term, Richmond has seen property prices show investors a 0.00% return over the last 3 years. This is worse than over the last 12 months
Vendor discounting in Richmond is giving property investors an average Vendor Discount of around -4.56%. This puts suburb at number 162th in VIC when ranking the most discounted suburbs.
Richmond, 3121’s gross rental yield is 4.16%