Investment property in Riverside has done well for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 9.12%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Riverside has increased when compared to the 5 year average annual rate.
Vendor discounting in Riverside is giving property investors an average Vendor Discount of around -4.44%. This puts suburb at number 87th in TAS when ranking the most discounted suburbs.
At number 72 in a list of fastest selling suburbs, Riverside is in the TOP 10% of suburbs in Australia with an average of days on market 37.2136 for properties listed there.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 2.29%, investors should hope to achieve an overall return of 4.91%
With a capital gain of 12.35% for the last 12 months, Riverside, 7250 has performed for property investments than its average annual 4.90% property growth over the last 5 years.
While Riverside,7250 ranked number 29th in TAS for increase in median house value (annualised) increase, it is ranked 39th over the last 5 years.
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.
In the last year 36 properties changed hands in Riverside, which puts it as the 13th most active market in TAS when comparing the number of sales per suburb.
Information supplied by:
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.