Property value increases in Richmond have tracked just higher than the VIC average of 8.13% over the last 12 months.
While Richmond,3121 ranked number 206th in VIC for increase in median house value (annualised) increase, it is ranked 56th over the last 5 years.
Richmond3121 is located in VIC which offers an average discount of -5.99% to property investors. Richmond itself is showing figures that indicate -3.76% is the average achievable by property buyers investing in the suburb.
A $600 per week rent on the median house gives suburb investors a gross yield of circa 2.64%, without taking into account capital value appreciation, which has been averaging out at 9.10%.
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 -2.65%.
If we look at median property appreciation over just the last three months, Richmond has given property investors a paper return of -1.79%. This puts Suburb as 269 on a list of fastest fasting appreciating suburbs in VIC
At number 212th of VIC’s most discounted properties, Richmond is in the TOP 40% of the state/territory when listing in order of most discounted to least.
A $430 per week rent on the median house gives suburb investors a gross yield of circa 4.07%, without taking into account capital value appreciation, which has been averaging out at 4.42%.