Suburb Profile Report for Riverside TAS (7250)

Riverside House: Median price $365,000, Annual capital growth 2.14%, Number of sales 143, Weekly median advertised rent $355

Riverside Unit: Median price $322,500, Annual capital growth 5.51%, Number of sales 51, Weekly median advertised rent $295

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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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.

Metrics i HOUSE UNIT
$365,000 $322,500
3.99% 0.00%
12.31% 17.27%
2.14% 5.51%
$355 $295
143 51
5.06% 4.76%
34.320755 68.5

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Very good (U)
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Demographics
Total population 6072
Median household income ($/weekly) 1152
Median age of persons 40
Median housing loan repayment ($/monthly) 1381
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 834 13.7
    25-34 years 603 9.9
    35-44 years 743 12.2
    45-54 years 920 15.2
    55-64 years 792 13.0
    Others 2180 35.9
    Age Group
    Census Count Percent(%)
    Registered Married 2384 53.0
    Not Married 1725 38.4
    Defacto Relationship 387 8.6
    Social Marital Status
  • Census Count Percent(%)
    Australia 5003 85.2
    New Zealand 62 1.1
    Papua New Guinea 70 1.2
    United Kingdom 326 5.6
    Other 123 2.1
    Others 288 4.9
    Country of Birth
    Census Count Percent(%)
    Buddhism 33 0.6
    Christianity 3880 69.0
    Hinduism 42 0.7
    Islam 37 0.7
    No Religion 1611 28.6
    Others 21 0.4
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 258 12.3
    $600-$799 225 10.7
    $1,000-$1,249 186 8.9
    $1,500-$1,999 268 12.8
    $2,000-$2,499 201 9.6
    Others 961 45.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1696 35.7
    Not in the labour force 1654 34.8
    Employed, worked part-time 1064 22.4
    Employed, away from work 177 3.7
    Unemployed, looking for work 159 3.3
    Person Characteristics
  • Census Count Percent(%)
    Managers 332 11.3
    Professionals 717 24.4
    Technicians & trades workers 425 14.5
    Community & personal service workers 352 12.0
    Clerical & administrative workers 400 13.6
    Others 712 24.2
    Occupation
    Census Count Percent(%)
    Pre-school 55 3.7
    Infants/Primary 569 38.2
    Secondary 445 29.9
    Technical or Further Educational Institution 168 11.3
    University or other Tertiary Institutions 224 15.1
    Others 27 1.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 5319 92.4
    Semi-detached, row or terrace house, townhouse 346 6.0
    Flat, unit or apartment 81 1.4
    House or flat attached to a shop, office 6 0.1
    Improvised home, tent, sleepers out 3 0.1
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 929 41.1
    Being purchased 811 35.9
    Rented 497 22.0
    Other tenure type 22 1.0
    Tenure Type
Census 2011, ABS
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