This property is Off Market
With an average age of 37, households expect an average monthly mortgage payment of $2,600 or a weekly rent payment of $550. The average family earns a weekly income of $3,250 with a typical household size of 2 and a 97.99% employment rate.
Consistent high demand relative to supply is a key feature in Richmond driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Richmond ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Richmond classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Richmond requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. High industry presence in the wider area is a double-edged sword. While local employment options are high, the presence of industrial buildings may negatively impact lifestyle perception. Demand from first home buyers and investors however ensures good price growth.
(Country of Birth not stated 5%)
Richmond (Vic.) a good, bad, or just average location in which to invest in property? Should you be buying, or selling, property right now? Our Investability scores provide comparative insights into the investment potential for every suburb across Australia.
Investability - Housing Demand
Victoria State average 44 / 100
77 / 100
52 / 100
100 / 100
17 / 100
66 / 100
32 / 100
85 / 100
70 / 100
100 / 100
34 / 100
Incidents Trend State Average
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134 Acme Avenue Street, Town, State
Description - Details the application. Type and other information pertaining to the development application and more...
Authority Reference: UX0909823-GOV Website
The Residz risks assessments are composed from data attributes which are generally accepted to indicate higher or lower risk presence likelihood for that condition for any address or locality. They do not however determine the exact presence of that risk for any specific property. The Residz Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice. While Residz uses commercially reasonable efforts to ensure the Residz Data is current, Residz does not warrant the accuracy, currency or completeness of the Residz Data and to the full extent permitted by law excludes liability for any loss or damage howsoever arising (including through negligence) in connection with the Residz Data. Historical prices and trends are not a guarantee of future prices and trends.