At number 3175th in the list of Australian suburbs ordered by increase in median house value over the last year, Riverview, 4303 is in the BOTTOM 30% with a property value increase of 7.23% recorded in median house prices.
Riverview,4303 was ranked 3653 in Australia by increase in median property value over the quarter.
Riverview, 4303 is offering QLD ‘s 146th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 20% of discounts offered by this QLD.
With the median price for a house in Riverview being $252000 and the advertised rent reaching $290 the gross rental yield for property investors calculates out to be 5.98%
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Another one of PRDnationwide’s top picks, the suburb of Riverview conveniently sits along the rail and road corridor between Ipswich and Brisbane.
Sales activity here has been stable, says PRDnationwide’s Josh Brown, but prices have softened, making Riverview a great pick for affordability.
Riverview’s traditionally been a good performer in terms of capital growth. While it’s been in the doldrums on that front in recent times thanks to flood and economy woes, Brown believes that its location will drive further growth in the long term.
“This suburb is well located along transport corridors connecting Brisbane to one of the fastest growing cities in the South East and it is expected to achieve strong growth in the future,” he says.
Certainly having its own train station and being right next to the Ipswich motorway puts Riverview up there on the accessibility front. Ipswich is around 20 minutes away by car or train, while Brisbane’s more like a 30- or 40-minute journey.
Hot Property Specialists’ Liz Wilcox notes that it’s largely a lower socioeconomic area with a lot of families and single mums. Looking at 2006 Census data, average weekly family incomes come in lower that the Queensland average ($796 vs $1123), and 54% of the suburb’s population are renters. SQM Research expects this second figure to rise to 77% over the next five years.
“It’s an affordable area with a lot of older ex housing commission homes,” notes Wilcox. “You can pick up a three-bedroom, one-bathroom house for under $300,000.”
She adds that parts of the suburb were flooded at the beginning of 2011, so it’s worth bearing this in mind when looking at property close to the river.