Suburb Profile Report for Riverside TAS (7250)

Riverside House: Median price $371,000, Annual capital growth 2.29%, Number of sales 125, Weekly median advertised rent $350

Riverside Unit: Median price $323,750, Annual capital growth 4.90%, Number of sales 36, Weekly median advertised rent $290

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

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

  • Expert Report
  • House Report
  • Unit Report

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.

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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
$371,000 $323,750
3.06% 0.39%
9.12% 12.35%
2.29% 4.90%
$350 $290
125 36
4.91% 4.66%
37.2135922330097 56.8181818181818

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. 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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