Richmond (postcode 5033) is a compact suburb in South Australia within the West Torrens local government area. It is home to about 3,474 residents, with a mix of families and early-career residents and a median age of 36. Households earn a median income of $72K per year, with an average household size of 2.2 people. Recent annual estimates show population movement staying broadly stable across the broader catchment, with population growth running at +0.9% year-on-year at the LGA level. SA employment has moved +2.1% year-on-year in the official Jobs and Skills Australia NERO series, which provides the broader jobs backdrop for this suburb. SA also had 23 Commonwealth-backed major projects under construction, 2 underway, and 11 in planning as at 2 October 2024, which is useful as a broader delivery backdrop rather than a suburb-specific project count. The most common occupations are professionals, community & personal service, clerical & administrative. Employment in the area leans toward healthcare and retail trade. The top ancestries reported are English, Australian, Greek.
The median house price in Richmond is $1.3 million, having climbed sharply by 22.1% over the past year. Units have a median price of $655,000 (+8.5% YoY). The current median weekly rent is $519. This gives a gross rental yield of approximately 2.0%. The median monthly mortgage repayment is $1,700.
Richmond is served by 1 school, including 1 primary. The average ICSEA score is 1084, which is above the national average of 1,000. Public transport access includes 7 bus stops. The crime rate in the West Torrens LGA is moderate at 4,548 incidents per 100,000 population.
Looking at the investment signals, Gross rental yield sits at around 2.0% (low yield). Property prices are above the state median ($1.3M/$950K), placing it in the premium segment. The price-to-income ratio of 18.4x is considered stretched. House prices have moved +22.1% year-on-year. Population growth of +0.9% year-on-year points to stable demand fundamentals. Building approvals have changed +0% year-on-year, indicating steady development activity.