Suburb Profile Report for Riverside TAS (7250)

Riverside House: Median price $411,000, Annual capital growth 3.82%, Number of sales 103, Weekly median advertised rent $355

Riverside Unit: Median price $387,500, Annual capital growth 5.49%, Number of sales 42, Weekly median advertised rent $312

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

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

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Property value increases in Riverside have tracked just higher than the TAS average of 9.78% over the last 12 months.

Riverside,7250 was ranked 1715 in Australia by increase in median property value over the quarter.

Property buyers and investors in Riverside 7250 should be seeing an average reduction in asking price of around -4.62% . This means that Riverside is holding prices well when compared to other suburbs in TAS.

Renters in Suburb are facing rents around $18460 per annum or $355 every week.

At number 99th in the list of Australian suburbs ordered by increase in median house value over the last year, Riverside, 7250 is in the top 10% with a property value increase of 19.60% recorded in median house prices.

If we look at median property appreciation over just the last three months, Riverside has given property investors a paper return of 3.33%. This puts Suburb as 18 on a list of fastest fasting appreciating suburbs in TAS

Riverside, 7250 is offering TAS ‘s 7th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this TAS.

Situated 164.07km from the CBD, Riverside is one of West Tamar (M) localities in the postcode 7250.

Information supplied by:




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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
$411,000 $387,500
1.61% 3.33%
11.53% 19.60%
3.82% 5.49%
$355 $312
103 42
4.49% 4.19%
34.6216216216216 59.8518518518519

Source: Monthly data update for Jun 2020 as supplied by CoreLogic. Data is reported to the period ending Mar 2020. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Very good (H), 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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