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Richmond
VIC, 3121 - Yarra

Thinking about buying in Richmond? Now could not be a better time, with 24321 residential properties there's certainly plenty to choose from. The average property price in this area is in the region of $1,390,000 with prices in this suburb ranging from $72,000 to $13,818,000. Richmond is located fairly close to the coast at just 3Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.

Household Makeup

Median Weekly Rent $462.38
Median Monthly Mortgage $2353.58
Median Persons Per Bedroom 0.96
Average Household Size 2.02
Average Age 33.93
Average Income $1320.80
Average Cars Per Dwelling 1.11
Average Properties Within 50M 117

Housing Stock

Average Property Prices

1 Bed  $562,000
2 Bed  $1,288,000
3 Bed  $2,325,000
4 Bed  $2,975,000
5 Bed  $3,647,000
6 Bed+$2,936,000

Richmond Real Estate Market Outlook

Good balance between supply and demand ensures a range of affordable options within budget limits. Recent increases in listings may provide buying opportunities. Low average incomes in Richmond is reflected in smaller and lower quality accommodation. Over time this may change providsing long-term returns but in the short to medium term, prices are likely to be less than state averages. A mix of professions and above average income earners in Richmond provides good demand. The lower than average housing turnover of these people also means fewer regular listings leading to periodic large price increases. Lower than average population density constrains growth in Richmond to an extent. However, where buyers are willing to compromise on housing and lifestyle choice, there are affordable options. Lower than average industry presence in Richmond we believe will be less of a negative impact than it has in the past. Post-COVID and the growth in working from home has lessened the demand for local employment options. This may make Richmond a better buying opportunity than it may have been in the past.

Richmond is a suburb of Melbourne, Victoria. An incredibly diverse and culturally rich suburb, Richmond has undergone significant gentrification in recent years, beginning in the early 1990s. The suburb is hugely multifaceted, featuring a blend of accommodation ranging from modern high-rise flats to Victorian terraced houses, interspersed throughout a popular retail sector. Well known for its Little Saigon region, a centre of Vietnamese culture in Australia, the name Richmond comes from a region in London known as Richmond Hill. Richmond features a number of schools and colleges, along with several hospitals and sports clubs.

Richmond lies just 3 kilometres from Melbourne’s Central Business District, making it excellent for commuters and professionals working in the city’s heart. Richmond is incredibly well serviced by public transport systems; there are 5 train stations spread throughout the municipality. The proximity and connections to the centre of the city, coupled with the retail sector that permeates much of Richmond and the high density and variety of housing found throughout the suburb, all combine to create a vibrant urban suburb full of excitement and promise, right in the heart of Melbourne.

Properties for sale Richmond

Belle Property UNIT 2, 65 DRIFT RD, RICHMOND, NSW, 2753 Beds5 Bathrooms2 Parking 2 Just Listed
Ray White 8 LENNOX ST, RICHMOND, NSW, 2753 Beds3 Bathrooms1 Parking 1 795000
Ray White UNIT 1, 15 STRONG PL, RICHMOND, NSW, 2753 Beds3 Bathrooms1 Parking 1 750000
Ray White 61 FRANCIS ST, RICHMOND, NSW, 2753 Beds6 Bathrooms3 Parking 4 5000000
Ray White 168 FRANCIS ST, RICHMOND, NSW, 2753 Beds6 Bathrooms5 Parking 6 3000000
Stone Real Estate 29 FAITHFULL ST, RICHMOND, NSW, 2753 Beds3 Bathrooms2 Parking 2 Contact Agent
Stone Real Estate 90B LENNOX ST, RICHMOND, NSW, 2753 Beds3 Bathrooms2 Parking 2 Guide: $990,000-$1,050,000

Local Schools

Richmond West Primary School

Richmond Primary School

Yarra Primary School

Lynall Hall Community School

Melbourne Girls College

Trinity Catholic School

Melbourne Indigenous Transition School

Richmond High School

Abbotsford Primary School

Hawthorn West Primary School

(While the above schools are located with the suburb of Richmond there may also be nearby schools whose catchments cover this suburb)

Local Crime Rate

Incidents Trend State Average

We are currently collecting information for this location.

Richmond weather - Average Local Climate by month

(mm)
RAIN
Min (°C)
TEMP
Max (°C)
TEMP
Min (%)
HUMIDITY
Max (%)
HUMIDITY
(m/sec)
WIND
(MJ/sq m)
SOLAR
Jan2.518.631.642.294.32.922.2
Feb3.518.029.746.295.12.718.8
Mar4.615.92749.996.02.415.5
Apr2.212.224.647.496.72.014.0
May1.17.221.146.996.71.711.4
Jun2.35.818.054.2971.99.2
Jul0.63.718.643.994.72.210.7
Aug1.14.320.037.892.82.613.2
Sept1.17.623.234.593.22.917.3
Oct1.511.625.338.794.12.819.7
Nov2.314.828.239.994.12.922.6
Dec2.616.629.839.994.3323.7

source: Australian Government Bureau of Meteorology


Recently Sold Properties / House Prices

06-03-2024 $785,000 49 JOHN TEBBUTT PL
01-03-2024 $1,200,000 63 WINDSOR ST
01-03-2024 $970,000 21 GIBSON ST
29-02-2024 $400,000 9 / 147 MARCH ST
23-02-2024 $820,000 14 GROSE ST
21-02-2024 $510,000 11 / 30 BOWMAN ST
08-02-2024 $385,000 9 COLLEGE ST
31-01-2024 $320,000 5 / 16 BOSWORTH ST
29-01-2024 $1,300,000 53 MORAY ST
25-01-2024 $880,000 1 / 354 WINDSOR ST
25-01-2024 $1,600,000 33 BOURKE ST
25-01-2024 $800,000 4 / 3 CHAPEL ST
24-01-2024 $1,050,000 11 ANDREW ST
23-01-2024 $505,000 4 / 114 WINDSOR ST
19-01-2024 $880,000 7 COLLEGE ST
17-01-2024 $425,000 2 / 5 PAGET ST
22-12-2023 $380,000 2 / 147 MARCH ST
21-12-2023 $420,000 7 / 8 BOSWORTH ST
20-12-2023 $545,000 1 / 12 JERSEY ST
15-12-2023 $860,000 9 BOWMAN ST
15-12-2023 $670,000 88 JOHN TEBBUTT PL
14-12-2023 $425,000 23 COLLEGE ST
14-12-2023 $460,000 34 / 8 BOSWORTH ST
13-12-2023 $695,000 6 / 22 WEST MARKET ST
13-12-2023 $1,515,000 60 PITT ST
12-12-2023 $730,000 3 / 38 PAGET ST
04-12-2023 $767,000 14 / 155 FRANCIS ST
04-12-2023 $462,000 24 / 8 BOSWORTH ST
01-12-2023 $740,000 2 / 86 WINDSOR ST
23-11-2023 $515,000 5 / 108 WINDSOR ST
23-11-2023 $1,900,000 8 EVANS CRES
23-11-2023 $515,000 5 / 108 WINDSOR ST
23-11-2023 $1,900,000 8 EVANS CRES
22-11-2023 $755,000 9 WINDSOR ST
22-11-2023 $845,000 33 DIGHT ST
22-11-2023 $300,000 62 PITT ST
22-11-2023 $777,000 54 WEST MARKET ST
22-11-2023 $755,000 9 WINDSOR ST
22-11-2023 $845,000 33 DIGHT ST
22-11-2023 $300,000 62 PITT ST
22-11-2023 $777,000 54 WEST MARKET ST
21-11-2023 $610,000 1 / 116 WINDSOR ST
14-11-2023 $750,000 6 / 176 MARCH ST
14-11-2023 $790,000 15 WILLIAM COX DR
14-11-2023 $750,000 6 / 176 MARCH ST
14-11-2023 $790,000 15 WILLIAM COX DR
10-11-2023 $665,000 1 / 13 MORAY ST
10-11-2023 $1,250,000 41 PITT ST
10-11-2023 $665,000 1 / 13 MORAY ST
10-11-2023 $1,250,000 41 PITT ST

Internet Speed

Download 25 Mbps / Upload 5 Mbps

Nearby Suburbs

CremorneBurnleyAbbotsfordEast MelbourneSouth YarraCollingwoodHawthornToorakMelbourneFitzroy

Public Transport


General Points of Interest

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