With a capital gain of 11.76% for the last 12 months, Richmond, 3121 has performed for property investments than its average annual 8.72% property growth over the last 5 years.
While Richmond,3121 ranked number 277th in VIC for increase in median house value (annualised) increase, it is ranked 69th over the last 5 years.
Property investors looking for a bargain in Richmond should be aiming for at least -4.82% off the asking price, which is the average vendor discount being achieved at the moment.
At number 1399 in a list of fastest selling suburbs, Richmond is in the TOP 40% of suburbs in Australia with an average of days on market 70.26 for properties listed there.
Over the last year, property investments in Richmond, 3121 have given investors a capital gain of -1.54%. This compares badly with the 2.98% for VIC as a whole.
Across a shorter period, Richmond, 3121 has seen a median price increase of -0.50% over the last quarter.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.08% offered to property buyers. Sellers in Richmond itself are offering an average vendor discount of -4.26% to real estate investors.