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Richmond, TAS 7025
Suburb profile: median house and unit prices, rental yield, capital growth, vacancy and demographics
Data updated
Median House
$975,000
market range $925K-$1M
Median Unit
$510,000
Gross Yield (houses)
3.5%
1yr Growth (houses)
+4.4%
market range -5.0% to +12.5%
Investment snapshot for Richmond
Richmond has enough public data for first-pass screening across yield, vacancy, price and supply signals.
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Richmond market and investor summary
Richmond (TAS 7025) runs a median house price of $975K, with houses yielding a gross 3.5%. House prices have moved +4.4% over the past year and +6.0% over three years. At 1.6% vacancy, it is a tight rental market that favours landlords.
For an investor, this reads as a capital-growth market more than a cashflow one. A gross house yield around 3.5% will not cover holding costs in the early years, so the case leans on price appreciation. Rental demand looks steady, with vacancy at 1.6% and a resident base that is not shrinking.
Living in Richmond: people, income and schools
About 1,583 people live in Richmond, and the area has been growing steadily, up about 10% over five years. The median age is 51, an older, established demographic, and 83% of homes are owner-occupied. Owner-occupiers dominate, so stock turns over slowly and listings can be thin when you are trying to buy.
Households here earn a median of about $78,000 a year, or roughly $1,500 a week. On socio-economic measures it ranks comfortably above the national middle (8 out of 10 on the ABS advantage index). At current prices a median house runs to a steep 12.5 times local household income, so affordability is a genuine constraint on local buyers.
There are 2 schools within about 5km, testing close to the national school average on ICSEA. It is roughly 19 km from the CBD. It is fairly car-dependent; the suburb scores 47 for walkability and 2 for transit out of 100. Fixed broadband is delivered over the NBN's Fibre to the Node.
- Population
- 1,583
- +10% over 5yr
- Median age
- 51 years
- Median household income
- $78,000/yr
- Households renting
- 14%
- Family households
- 73%
- Socio-economic rank
- 8/10
- ABS advantage index
- Schools within 5km
- 2
- avg ICSEA 981
- Unemployment
- 3.5%
- Distance to CBD
- 19 km
- Walk score
- 47/100
Demographic, school and socio-economic figures are sourced from the ABS Census, SEIFA and ACARA. Property metrics reflect PropRadar's latest data.
Properties in Richmond
No properties currently listed in Richmond
Search Richmond listings →Frequently asked questions about Richmond
What should I check before investing in Richmond?
Richmond has enough public data for first-pass screening across yield, vacancy, price and supply signals. Strong unit gross rental yield of 8.6%, before expenses, tax and loan costs. Capital growth of +4.4% in the past year shows positive recent price momentum. Compare those signals with nearby suburbs and individual listings before relying on the suburb-level view.
What are typical property prices in Richmond?
The median property price in Richmond, TAS 7025 is $975K for houses and $510K for units.
What rental yield does Richmond show?
The gross rental yield in Richmond is 3.5% for houses and 8.6% for units. Gross yield is calculated as annual rent divided by property price, and it doesn't account for expenses or tax.
What does recent house price growth show for Richmond?
House prices in Richmond are up 4.4% over the past year and up 6.0% over three years. Capital growth is a key driver of total investment return, so pair it with rental yield to get a full picture.
How tight is the rental market in Richmond?
The current vacancy rate in Richmond is 1.6%. A rate under 2% generally signals a tight rental market. This suburb's rental market is very tight, with landlords typically holding strong bargaining power and low rental downtime.
How many people live in Richmond?
Richmond has a population of approximately 1,583 residents, with a median age of 51.
What schools are near Richmond?
There are 2 schools within roughly 5km of Richmond. Their average ICSEA is close to the national mean of 1000. ICSEA is the ABS measure of a school community's socio-educational advantage.
Is Richmond affordable to buy in?
A median house in Richmond costs about 12.5 times the median local household income (a high multiple that makes the suburb a stretch for median local earners). The ratio compares the median house price with annual household income; it is a rough affordability gauge, not a substitute for your own borrowing assessment.
Is Richmond's population growing?
The population of Richmond has grown about 10% over the past five years, an above-average pace. Population growth feeds underlying housing demand, so it is worth weighing alongside price and yield.
How far is Richmond from the CBD?
Richmond is about 19 km from the CBD.
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