At number 578th in the list of Australian suburbs ordered by increase in median house value over the last year, Richmond, 3121 is in the top 20% with a property value increase of 13.92% recorded in median house prices.
Comparing Richmond,3121 ‘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 Richmond is offering property investors an average of -6.04. This rate of discount on properties puts Suburb at number 282th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $610 and the average annual increase in value of a median property of 9.11%, investors should hope to achieve an overall return of 2.65%
Richmond has had a quite poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -1.18% to date .
The five-year average increase in median property values for Richmond,3121 has given property investors a potential capital gain of 2.80% across each of those five years.
Richmond, 3121 is offering VIC ‘s 227th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 40% of discounts offered by this VIC.
Residents and property investors in Richmond have been waiting around 74.31 days to sell a property.
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 4.32%.