Richmond, VIC 3121
Yarra City, Victoria
Good to Know
Richmond, VIC 3121 is a high-value house market in the Yarra City Council area, currently positioned as a long-hold capital growth submarket. Located about 3 km east of the Melbourne CBD, Richmond is home to roughly 28,587 adults across 20,627 dwellings and records a vacancy rate of 1.48%.
According to HtAG Analytics, Richmond is exhibiting tight supply with rental strength. Stock on Market sits at 0.26% and Inventory at 2.02 months — both tighter than the ~3-month balanced-market threshold — driving +1.7% YoY price growth and +3.6% YoY rent growth.
What the market data is signalling
Richmond shows rent growth outpacing price growth: rents are up +3.6% over 12 months while prices rose +1.7%. That divergence, combined with a gross yield of 3.32% on a typical house price of $1,640,323 and very low Stock on Market (0.26%), signals a market where tight supply is supporting rental strength and providing downside protection for owners.
For a snapshot of how Richmond sits inside broader momentum patterns, see the Markets in the Moment (MiM™) heatmap.
Who lives in Richmond — and why it matters for investors
Richmond scores 1073 on the IRSAD index, indicating relative affluence and local amenity demand that tend to reduce volatility in long-run capital growth. However, the area has an elevated renter share (55.0%) and a high units-to-houses mix (63.0%), both of which are flagged as unfavourable for owner-dominated stability and can increase short-term tenant churn.
Read more on how socio-economic mix influences housing cycles in the IRSAD Crossover study.
Why suburb-level data matters for Richmond
Council-level averages can mask concentrated pockets of demand or supply. Richmond’s own metrics — a typical house price of $1,640,323, gross yield of 3.32%, Stock on Market at 0.26%, Inventory at 2.02 months and median days on market of 29 days — tell the suburb’s story and should be the basis for a buy/hodl decision rather than an LGA headline.
HtAG’s methodology explains why you need suburb granularity: LGA vs Suburb research. For the full dataset on the suburb see the full Richmond, VIC 3121 data guide.
What's behind the RCS™ score of 85
The HtAG RCS™ bundles three independent dimensions — risk minimisation, capital-growth potential and cashflow resilience — into a single composite so you can compare market suitability against an investment strategy. A score of 85 indicates a strong composite outcome, but the balance between the sub-scores determines whether Richmond suits a growth, income or balanced approach.
Learn about how the RCS™ is built, then open Richmond in HtAG Copilot to inspect sub-score detail and sensitivities.
Forward signals to watch
The vacancy rate — currently 1.48%: this sits in the balanced band (1–3.5%) and sustained readings here over 12–24 months imply steady rental demand without acute pressure on rents.
The building approvals ratio — currently 0.09%: approvals are very low (<0.3%), signalling constrained new-supply additions which tends to support prices and rents if demand holds.
The Melbourne cycle phase: a city-wide shift in metropolitan momentum would amplify or blunt Richmond’s local momentum — cyclical upswings boost absorption of tight stock, while downcycles can test high-priced, low-yield suburbs first.
Does this area meet your investment goals?
Get full accessCritical to know
RCS Breakdown
Richmond's RCS™ headline is an overall signal — but it doesn't tell you why. The three sub-scores below reveal whether that score is earned through risk minimisation, capital growth, or cashflow — and which portfolio brief it fits.
starter
Investor
Pro
Critical to know
Market Trends
Richmond's headline values — $1,640K to buy and $1,044PW to rent, a 3.3% gross yield. Over the past decade, prices have moved 14.00% and rents 41.87% — the Yield series shows whether that gap is widening (price outpacing rent, yield compressing) or closing.
$1,640K is today. The 10-year trajectory reveals whether that's the top of a run, the start of a new leg, or somewhere mid-cycle. Sign up to unlock the entire trend line.
$1,044PW today, with rent growth at (+3.56% YoY) compared to price growth (+1.69%). That spread determines yield is expanding or compressing across the next cycle. Sign up to unlock the entire trend line.
Where is Richmond in its cycle - and is the 3.3% yield holding?
Cycle phase tells you whether you're buying near the bottom (room to run) or top (compression ahead). Yield trajectory tells you whether cashflow is durable or being eroded — the single most important question for a long-hold thesis.
Cycle Phase
Cycle Position
Yield Trajectory
Rent vs Price Spread
Investor
Pro
Area Risks
Property data alone won't flag the structural risks that can erode a long-hold position. Bushfire overlays, flood-zone exposure, and economic concentration sit outside the price feed but determine whether your capital is insurable, defensible, and structurally protected. Unlock to see.
Are there hidden structural risks shaping Richmond's long-hold story?
Beyond the headline price, Richmond carries risk signals a median can't show — hazard exposure from bushfire and flood overlays, and how narrowly local employment leans on a handful of sectors (the concentration the EDI score quantifies). Together these separate insurable, defensible long-holds from those carrying tail-risk that never surfaces in the headline number.
MADI Risk
EDI Risk
Bushfire
Flood
Investor
Pro
Critical to know
Supply & Demand
Richmond's headline numbers show where the market is today. The two cards below answer where it's heading. Direction is what separates a buy from a wait.
Is housing supply tightening or building up?
Stock on Market is one number — the trend is what matters. SoM, inventory, building approvals and hold period together reveal whether the market is starving for stock (price pressure up) or quietly building a pipeline (pressure down).
Stock on Market
Inventory
Building Approvals
Hold Period
Is buyer and renter demand heating up or cooling off?
Vacancy is one signal — the real question is whether demand is still building or quietly peaking. Days on market, vacancy, search index and clearance rate are the four pulse-points — when they diverge, they signal a turning point.
Days on Market
Vacancy Rate
Search Index
Clearance Rate
Investor
Pro
Critical to know
Fundamentals
Richmond can look solid on the surface — but the three layers below separate markets that genuinely hold value from ones that only look like they do.
Is Richmond genuinely stable - or just expensive?
IRSAD hints at affluence, but socio-economic strength alone doesn't guarantee resilience. Combined with the renter-to-owner balance and unit-to-house ratio, you get the three signals that separate a tightly-held submarket from one carrying hidden volatility.
IRSAD
Renter to Owner
Units to Houses
Where do Richmond prices go over the next 12 months?
Today's headline price is just a snapshot. Projected ROI and the volatility index tell you whether to commit capital now, wait for a softer entry, or rotate into a steadie submarket.
Projected Annual ROI
Volatility Index
Can you actually buy into Richmond - and exit cleanly?
Tightly-held areas reward long-hold investors but punish anyone who needs liquidity. Annual sales and rental volume reveal whether your capital can reposition — or sits structurally locked in.
Annual Sales Volume
Annual Rental Volume
Investor
Pro
Important to know
Education & Infrastructure
Richmond looks tightly-held and stable on the surface — but the three layers below separate areas that genuinely hold value from ones that only look like they do.
Does Richmond's school catchment + infrastructure pipeline justify the price?
School ranks anchor family demand and tenant quality. The active infrastructure pipeline shifts a suburb's price ceiling over the next 5–10 years. Together they tell you whether Richmond has structural support for the next leg of capital growth.
School Rank
Hospitals & Employment
Infrastructure Spend
Transport Projects
Investor
Pro
Full HtAG Intelligence
Richmond shows potential. The platform tells you whether it's the best fit for your portfolio.
Price and yield are only the surface. HtAG reads the forces underneath — supply tightening or loosening, demand heating or cooling, and the risks that move slowly but decide long-term growth. Together they show whether Richmond has the structural support for its next leg — or whether the numbers are running ahead of the fundamentals.
The total adult population (15 years or older) of Richmond 3121 VIC is 25,833, with a median age of 34. Of those, 26.21% are married, 9.88% are divorced or separated, 60.88% are single and 3.01% are widowed.
The average household size is 2.0 people per dwelling, and the median household monthly income is estimated to be $12,384. The median monthly mortgage repayment for households in this suburb is $2,292 which is 18.51% of their earnings.
Source: ABS Census Data (2021)