Richmond
Property profile for Richmond, Melbourne. Median prices and property calculators.
Median Prices
Median House Price
$1,450,000
Approximate median for Richmond, Melbourne
Median Unit Price
$550,000
Approximate median for Richmond, Melbourne
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Estimated Stamp Duty
$74,250
On median house price of $1,450,000
Estimated Monthly Mortgage
$7,105
80% LVR, 6.2% rate, 30yr P&I
Estimated Deposit Needed
$290,000
20% of median house price
Estimates are approximate and based on the median house price. Use our calculators for exact figures.
About Richmond
Richmond is an inner-city suburb located just east of Melbourne's CBD, separated by the Yarra River and connected by multiple bridges. The suburb is famous for Victoria Street's Vietnamese restaurants and grocers, Bridge Road's fashion outlet shopping, and the Swan Street dining and bar precinct. Property in Richmond includes restored Victorian and Edwardian terraced houses on compact blocks, converted warehouse apartments, and modern developments near the river. The suburb sits adjacent to the MCG and Melbourne Park sporting precinct, making it a prime location during major events such as the Australian Open and AFL season. Transport connections are outstanding, with Richmond station serving as a major interchange for multiple train lines, and trams running along Victoria Street, Bridge Road, Swan Street, and Church Street providing direct CBD access. Cyclists benefit from the popular Capital City Trail along the Yarra River. Richmond has undergone significant gentrification over the past two decades, with former industrial sites transformed into residential and mixed-use developments. The suburb attracts young professionals, couples, and investors seeking inner-city convenience, while families appreciate the village feel of its quieter residential streets.