Thinking about buying in Riverside? Now could not be a better time, with just 192 residential dwellings it's a highly sought after location. The average property price in this area is in the region of $1,217,000 with prices in this suburb ranging from $273,000 to $2,808,000. Riverside is located fairly close to the coast at just 1Km so as well as great views of the ocean and access to beaches, demand and valuations are likely to be a bit higher here.
Median Weekly Rent | $207.50 |
Median Monthly Mortgage | $1230.00 |
Median Persons Per Bedroom | 0.70 |
Average Household Size | 2.00 |
Average Age | 56.00 |
Average Income | $664.50 |
Average Cars Per Dwelling | 1.31 |
Average Properties Within 50M | 4 |
2 Bed  $365,000 |
3 Bed  $1,124,000 |
4 Bed  $1,421,000 |
5 Bed  $1,396,000 |
6 Bed+$1,578,000 |
Prices are above market average and increase steadily under persistent demand. A more sustainable rate of price growth is anticipated in the short to medium term. In this area of average incomes, there is a mix of housing size and quality. While this may present buying opportunities, growth may be constrained. As buyers begin to examine Riverside due to other areas being out of the price range and the trend to working from home, "gentrification" may incease price growth. A mix of professions and above average income earners in Riverside 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 Riverside 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 Riverside 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 Riverside a better buying opportunity than it may have been in the past.
786 RIVERSIDE EAST RD, RIVERSIDE, VIC, 3401 | 3 | 1 | 1 | $599,000 |
Newman Senior Technical College
Heritage Christian School
Nautilus Senior College
St Joseph's Primary School
(While the above schools are located with the suburb of Riverside there may also be nearby schools whose catchments cover this suburb)Incidents Trend State Average
(mm) RAIN | Min (°C) TEMP | Max (°C) TEMP | Min (%) HUMIDITY | Max (%) HUMIDITY | (m/sec) WIND | (MJ/sq m) SOLAR | |
---|---|---|---|---|---|---|---|
May | 1.1 | 5.7 | 17.5 | 54.5 | 94.5 | 3.4 | 9.7 |
Jun | 1.2 | 3.9 | 14.3 | 66.7 | 96.5 | 3.3 | 7.9 |
Jul | 1.5 | 3.8 | 13.8 | 66.0 | 95.0 | 3.8 | 8.2 |
Aug | 1.2 | 3.8 | 15.1 | 56.4 | 97.3 | 4.1 | 11.3 |
Sept | 1.6 | 4.9 | 18.2 | 49.2 | 96.1 | 3.8 | 15.5 |
Oct | 0.7 | 6.0 | 23.1 | 34.0 | 92.4 | 4.2 | 22.0 |
Nov | 3.5 | 8.8 | 25.8 | 34.2 | 85.9 | 4.3 | 24.2 |
Dec | 1.3 | 11.3 | 29.5 | 24.0 | 84.7 | 4.7 | 29.5 |
Jan | 1.3 | 13.0 | 31.2 | 21.3 | 74.4 | 5.0 | 28.2 |
Feb | 0.7 | 14.0 | 31.2 | 23.7 | 76.5 | 4.5 | 23.9 |
Mar | 0.8 | 10.9 | 26.7 | 31.3 | 88.2 | 4.1 | 18.2 |
Apr | 0.9 | 8.2 | 22.2 | 37.9 | 88.4 | 3.8 | 13.6 |
source: Australian Government Bureau of Meteorology
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