Richmond, VIC 3121
Yarra City, Victoria
Good to Know
Richmond, VIC 3121 is a high-value house market in the Yarra City area, currently positioned as a long-hold capital growth submarket. Located roughly 3 km east of Melbourne CBD, Richmond is home to roughly 28,587 residents across 20,627 dwellings, with a vacancy rate of 1.67%.
According to HtAG Analytics, Richmond is exhibiting constrained supply and solid rental demand. Stock on Market sits at 0.22% and Inventory at 1.81 months — well below the ~3-month balanced-market threshold — driving +2.0% YoY price growth and +4.0% YoY rent growth.
What the market data is signalling
Low listing activity and short inventory are the clearest signals: Stock on Market is 0.22% and Inventory sits at 1.81 months, while the building approvals ratio is just 0.09%. Those supply constraints, combined with rent growth of +4.0% YoY outpacing price growth of +2.0% YoY, point to improving rental returns and upward pressure on rents even as capital gains remain modest. See the Markets in the Moment (MiM™) heatmap for a live view of how Richmond is tracking against other suburbs.
Who lives in Richmond — and why it matters for investors
Richmond records an IRSAD decile of 10, indicating a relatively affluent resident profile, which tends to support long-run price resilience and amenity-driven demand. At the same time the suburb has a 55% renter/owner ratio and a 63% units/houses ratio, showing a larger renter base and a higher concentration of units relative to houses — factors that increase sensitivity to rental-market shifts and tenant demand cycles. For the research behind this demographic effect see the IRSAD Crossover study.
Why suburb-level data matters for Richmond
Suburb-level metrics reveal pockets of opportunity that council averages can hide. Richmond’s typical house price of $1,658,943, an indicative gross yield of 3.29%, Stock on Market at 0.22%, Inventory at 1.81 months and median days on market of 34 describe a tightly-held, fast-moving house market — details investors need to see at suburb scale, not just at council level. Read why council averages can mislead in our LGA vs Suburb research.
For a full, downloadable dataset on this suburb consult the full Richmond data guide.
What's behind the RCS™ score of 89
The HtAG RCS™ bundles three independent dimensions — risk minimisation, capital-growth potential and cashflow resilience — into one composite score so you can see trade-offs at a glance. Richmond’s overall RCS of 89 reflects strong structural attributes (affluence, tight supply, rent growth) but also affordability pressure. Drill into each sub-score to match the suburb to your strategy and learn more about how the RCS™ is built. To explore the full dataset, open Richmond in HtAG Copilot.
Forward signals to watch
The vacancy rate — currently 1.67%: sustained sub‑2% vacancy over 12–24 months typically indicates firm rental tightness and puts upward pressure on rents and tenant competition.
The building approvals ratio — currently 0.09%: very low approval activity signals constrained new housing supply ahead, which supports existing asset values and rental rates over the medium term.
The Melbourne cycle phase: a shift in the city‑wide cycle (toward an upswing or downturn) would tend to amplify or damp local momentum in Richmond, so monitor city-level indicators alongside suburb metrics.
Does this area meet your investment goals?
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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.
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Market Trends
Richmond's headline values — $1,666K to buy and $1,054PW to rent, a 3.28% gross yield. Over the past decade, prices have moved 14.83% and rents 41.94% — the Yield series shows whether that gap is widening (price outpacing rent, yield compressing) or closing.
$1,666K 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.
$1,054PW today, with rent growth at (+4.24% YoY) compared to price growth (+2.31%). 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 3.28% 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
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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
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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
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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
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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
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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)