At number 548th in the list of Australian suburbs ordered by increase in median house value over the last year, Riverside, 7250 is in the top 20% with a property value increase of 12.31% recorded in median house prices.
While Riverside,7250 ranked number 41th in TAS for increase in median house value (annualised) increase, it is ranked 119th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Riverside is offering property investors an average of -5.54. This rate of discount on properties puts Suburb at number 74th in terms of most discounted suburbs in TAS
In the last year 143 properties changed hands in Riverside, which puts it as the 3rd most active market in TAS when comparing the number of sales per suburb.
With the median price for a house in Riverside being $365000 and the advertised rent reaching $355 the gross rental yield for property investors calculates out to be 5.06%
Over the last year, property investments in Riverside, 7250 have given investors a capital gain of 17.27%. This compares very favourably with the 6.67% for TAS as a whole.
Taking the average capital gain, or increase in median house value, Riverside,7250 has racked up an average of 17.27% over the period. This ranks it number 377th in the whole country for real estate investors looking at median house price increases.
At number 13th of TAS’s most discounted properties, Riverside is in the TOP 30% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Riverside have been waiting around 68.5 days to sell a property.
A $295 per week rent on the median house gives suburb investors a gross yield of circa 4.76%, without taking into account capital value appreciation, which has been averaging out at 5.51%.
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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.