Part of Inner Melbourne: This guide is part of our comprehensive Inner Melbourne Property Investment Guide
Richmond Property Investment Guide 2026: Inner Melbourne Lifestyle
Richmond offers Inner Melbourne gentrification opportunity: $880,000 median, 6.5% growth. CBD proximity (5-10km), tram access, cafe culture. Strong demographics (young professionals, students), tight vacancy (under 2%). Location premium investment.
Quick Answer
Why invest in Richmond?
Richmond delivers Inner Melbourne lifestyle: $880,000 median, 6.5% growth. CBD 5-10km, tram network access, established cafe/retail culture. Apartments $650k-$850k yield 4.0-4.5%. Gentrification ongoing - young professionals, students, creatives. Vacancy under 2%, strong rental demand.
Richmond Overview
Inner Melbourne Comparison
| Suburb | Median | Growth | Yield |
|---|---|---|---|
| Richmond | $880,000 | 6.5% | 3.6% |
| Fitzroy | $1,100,000 | 5.8% | 3.4% |
| Collingwood | $980,000 | 6.2% | 3.8% |
| Brunswick | $920,000 | 6.8% | 4.0% |
Richmond positioned Inner Melbourne market. 6.5% growth reflects gentrification premium, location scarcity, strong demographics.
Investment Strategy
Apartment Entry: Buy 2-bed apartments $650k-$850k yield 4.2%. Target CBD workers, students. Sub-$1M entry to Inner Melbourne.
House Gentrification: Buy houses $880,000 in improving streets. Accept low yield (3.6%) for capital growth 6.5%, location scarcity.
Risks
High Entry: $880,000 limits mainstream buyers.
Low Yields: 3.6% requires negative gearing.
Gentrification Priced In: May have limited upside remaining.
Frequently Asked Questions
Yes - Richmond delivers 6.5% growth at $880,000. Inner Melbourne gentrification leader. CBD proximity (5-10km), tram access, cafe culture. Yields 3.5-4.2%. Established demographics, strong rental demand from young professionals, students.
Houses: 3.2-3.8%. Apartments: 4.0-4.5%. $880,000 entry balanced by strong capital growth 6.5%. Richmond attracts CBD workers, university students, creatives. Tight vacancy (under 2%).
Richmond: $880,000, 6.5% growth, 3.7% yield, lifestyle. Outer Melbourne: $550k-$700k, 9-10% growth, 4.8% yield, value. Richmond offers location premium. Outer offers affordability/growth. Different buyer profiles.
Both viable. Apartments ($650k-$850k) for sub-$1M entry, student/professional tenants. Houses ($880,000) for land value, families. Richmond gentrifying - both performing.
Young professionals (25-40), students, creatives, LGBTQ+ community. Progressive, multicultural. Owner-occupiers 55-65%. Gentrification ongoing - established mixing with new money.
High entry cost ($880,000 limits buyers), gentrification premium may be priced in already, apartment oversupply in some buildings. Requires street-level research.