VIC has seen average median house prices change by 7.68% which means that Richmond, 3121 has done well for property investors by showing a capital gain of 9.55% over the last year
Taking the average capital gain, or increase in median house value, Richmond,3121 has racked up an average of 9.55% over the period. This ranks it number 650th in the whole country for real estate investors looking at median house price increases.
Property buyers and investors in Richmond 3121 should be seeing an average reduction in asking price of around -7.01% . This means that Richmond is holding prices well when compared to other suburbs in VIC.
At number 1464 in a list of fastest selling suburbs, Richmond is in the TOP 40% of suburbs in Australia with an average of days on market 72.7 for properties listed there.
Advertised rents are around the $620 mark per week – giving a return of 2.68% based on the median price in Suburb
Investment property in Richmond has done pretty poorly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of -1.18%
Taking the average capital gain, or increase in median house value, Richmond,3121 has racked up an average of -1.18% over the period. This ranks it number 1420th in the whole country for real estate investors looking at median house price increases.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.14% offered to property buyers. Sellers in Richmond itself are offering an average vendor discount of -4.40% to real estate investors.
Residents and property investors in Richmond have been waiting around 73.86 days to sell a property.
Situated 3.11km from the CBD, Richmond is one of Yarra localities in the postcode 3121.