Over the last year, property investments in Riverside, 7250 have given investors a capital gain of 10.03%. This compares averagely with the 11.04% for TAS as a whole.
When looking at the potential capital gains offered to property investors over the last 3 years, Riverside comes in at number 120th in TAS.
LACK OF BUYER INTEREST may well be the reason that Riverside is offering property investors an average of -5.49. This rate of discount on properties puts Suburb at number 62th in terms of most discounted suburbs in TAS
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 1.59%, investors should hope to achieve an overall return of 5.19%
Riverside is in the TOP 20% in TAS when comparing median price capital growth over the last year. Riverside gave property investors a very good capital gain figure when compared to the rest of the state, with 21.50%.
The five-year average increase in median property values for Riverside,7250 has given property investors a potential capital gain of 30.00% across each of those five years.
Our latest figures would indicate that property sellers in Riverside are currently offering property investors an average price cut of -3.54% below the asking price at the moment.
Often selling an investment property can take time, and in Riverside the average time real estate has been on the market is 64.75 days.
The TAS suburb of Riverside, 7250 is in the West Tamar (M) local government area.
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Situated a few kilometres northwest of the CBD, Riverside is Launceston’s largest suburb in terms of population, and is home to several schools, sports grounds and a golf course amongst other things.
Road access to Launceston city centre is good, with the A7 highway running right through Riverside, and on into the CBD.