Melbourne's Inner East MARKET REPORT. JAN-MAR 2025
The Richmond property market has started 2025 on a strong note, with enquiry volumes up 13% compared to the same period last year. This positive trend is driven by improved purchasing conditions, a broader selection of homes on the market and lower interest rates, making property more accessible to buyers. Richmond remains one of Melbourne's most desirable suburbs, thanks to its central location and vibrant community. The median house price is around $1,400,000 while units are averaging $614,000. This steady price growth reflects continued demand from both owner-occupiers and investors, particularly as supply increases. Despite the upcoming federal election, historical data shows little to no immediate impact on market activity. Auctions held on election day have even shown higher clearance rates, indicating that motivated buyers are still engaging in the market. Looking ahead, the Richmond and surrounding areas remain strong performers. With buyer confidence rising and strong demand for properties, the market is expected to stay active throughout 2025, offering great opportunities for buyers and sellers alike. Welcome. A Word from the Principal
Daniel Finlayson Real Estate Agent | Auctioneer 0430 110 348 Ken Griffith Senior Real Estate Agent 0418 548 423 Daniel Atsis Principal Director | Auctioneer 0408 556 927 Meet Our Agents Led by Director Daniel Atsis, Belle Property Richmond has built a strong sales presence and a highly successful property management divison, establishing itself as a leading real estate agency in Richmond and the surrounding areas. Amanda Michael New Listing Manager 0489 294 727 Taylah Farrell Project Manager 03 9967 8899 The Team. Casey Fraser Head of Rental Department 0422 265 760
Apartments 140 Dwellings Available the in last Month 64 Houses Houses $613.5k Apartments $1.38m Current Median Prices 30 min Direct Walk 3.5km Distance from CBD Renters Growth Family (vs Singles) Owners Size Most common age bracket 58% 2.1% 29% 42% Owner / Renter Breakdown 27,724 Population 20-39 Demographics $ Local Insights.
Cafes Known for its vibrant café culture, offering a mix of trendy spots and cozy hideaways. With high-quality coffee, creative menus and lively atmospheres, our cafés are perfect for a quick coffee or a relaxed brunch, reflecting Melbourne’s iconic cafe scene. Parks Richmond has several beautiful parks that offer green space and relaxation in the heart of the suburb. Popular spots like the tranquil Burnley Park provide plenty of room for outdoor activities, picnics and walks along the Yarra River. Transport Richmond offers excellent transport options with trains, trams and buses for easy access to the CBD and beyond. Also highly walkable, with amenities and green spaces nearby, while bikefriendly routes like the Yarra River Trail make it perfect for cycling and walking. Richmond fosters a strong sense of connection, with local events, markets, and cultural initiatives bringing residents together. The Perfect Blend of Lifestyle and Urban Living Trendy cafes, an eclectic blend of shops and proximity to the CBD offer the perfect balance of convenience and lifestyle. With great transport links, parks and cultural amenities, it’s ideal for professionals, families and investors seeking a dynamic, connected community. Richmond Suburb profile.
“ ” HOUSE OF HANDMADE | 73 Bridge Road, Richmond House of Handmade is a charming oasis for lovers of all things artisanal, offering a celebration of creativity, craftsmanship and community. Nestled in the heart of Richmond, this boutique showcases a curated selection of one-of-a-kind, handcrafted treasures—ranging from intricate jewellery and bespoke homewares to enchanting artwork and carefully crafted textiles. Every piece tells a story, with artisans pouring their skill and passion into each creation. Attended a workshop where we got to make our own beautiful charm necklace & bracelet. It's also such a cute little shop with so many items made by lots of talented makers! - Viv D Local Businesses.
Beyond the shop, House of Handmade is a hub for fostering connection and inspiration. Regular workshops invite visitors to learn the magic of handmade arts, from crochet to polymer clay, bringing out their own inner artist. Open TUES-SAT 10AM-4PM Check their website for updates on exciting upcoming events, including School Holiday Programs where kids can get creative by make friendship bracelets and painting pot plants! houseofhandmade.com.au This space is more than just a retail experience—it's a heartfelt tribute to the beauty of handmade goods and the talented individuals who craft them. House of Handmade invites you to explore, be inspired and celebrate the art of creating with love and intention. Local Businesses.
H - House | A - Apartment | T - Town House Properties Leased January-March 2025 Suburb Leases. Address 1 0 1 1 1 1 1 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 1 3 1 1 1 2 1 1 2 1 1 2 2 2 2 2 4 2 1 3 3 2 A A A A A H A A A H A A A T A $450 $565 $515 $740 $550 $800 $675 $620 $750 $1,300 $600 $520 $895 $1,200 $675 abv Type Price (pw) 2/90 Gardner Street, Richmond 6/26-28 Charlotte Street, Richmond 113/253 Bridge Road, Richmond 206/27 Dickmann Street, Richmond 30/81 Edinburgh Street, Richmond 195 Burnley Street, Richmond 405/132 Burnley Street, Richmond 106/366 Church Street, Richmond 103/366 Church Street, Richmond 2 Corsair Street, Richmond 11/297 Church Street, Richmond 102/163 Cremorne Street, Cremorne 1/367 Bridge Road, Richmond 3/332 Victoria Street, Richmond 39/8 Hull Street, Richmond $750 pw 103/66 Church Street, Richmond LEASED $1,200 pw 3/332 Victoria Street, Richmond LEASED
H - House | A - Apartment | T - Town House Properties Sold January-March 2025 Suburb Sales. Address 1 1 1 1 1 1 0 3 1 1 0 2 1 1 1 1 1 1 1 1 1 1 3 2 2 1 2 1 1 1 1 1 2 3 3 2 3 4 4 4 2 2 1 1 1 A A A H H H H H H H H T A A A $327,500 $382,500 $494,000 $1,230,000 $1,310,000 $1,400,000 $1,735,000 $3,690,000 $2,400,000 $3,450,000 $1,253,000 $1,200,000 $290,000 $300,000 $350,000 22/02/2025 08/02/2025 19/02/2025 01/03/2025 15/03/2025 15/03/2025 01/03/2025 10/03/2025 15/03/2025 06/03/2025 22/03/2025 01/03/2025 19/03/2025 04/03/2025 21/02/2025 abv Price Type Date 13/39 Somerset Street, Richmond 6/263 Lennox Street, Richmond 404/1 Acacia Place, Abbotsford 7 Kenny Street, Richmond 102 Park St, Abbotsford 2 Stillman Street, Richmond 78 Duke Street, Richmond 37 Palmer Street, Richmond 3 Murphy Street, Richmond 8 Rose Street, Richmond 10 Kimber Street, Richmond 8/31 York Street, Richmond 2/44 Type Street, Richmond 5/109 Mary Street, Richmond 112/8 Garfield Street, Richmond $1,450,000 427 Punt Road, Cremorne SOLD $1,300,000 9/1 Princess St, Richmond SOLD
Date Price $1,033,000 $640,000 $1,702,000 $1,100,000 $1,305,000 $3,300,000 $640,000 $720,000 $430,000 $677,000 $527,000 $2,325,000 $890,000 $850,000 $861,000 $1,860,000 $1,321,000 $1,378,000 $2,002,000 $1,110,000 $400,000 $1,125,000 $430,000 $1,450,000 $1,640,000 $1,350,000 $1,370,000 $1,467,000 $375,000 $2,275,000 Type H A H H T H A A A A A H H A T H H H H H A H A H T H H T A A abv 1 2 2 1 2 3 2 1 1 2 1 3 1 2 1 2 1 2 2 1 1 1 1 1 2 1 2 3 1 2 3 2 4 2 2 4 2 2 1 2 2 4 2 2 2 3 2 2 4 2 1 2 1 3 4 2 3 3 1 3 0 1 0 0 2 3 1 1 1 0 1 2 2 1 1 1 0 1 3 0 1 0 1 3 2 0 0 2 1 2 Properties Sold January-March 2025 H - House | A - Apartment | T - Town House | L - Land Land Size 245 - 175 135 - 467 - - - - - 158 157 - - 110 153 148 540 174 - 147 - 445 - 114 125 89 Charles Street, Abbotsford 35/73 River Street, Richmond 78 Albert Street, East Melbourne 50 Madden Grove, Burnley 4/68 Rowena Parade, Richmond 8 Union Street, Richmond 118/73 River Street, Richmond 17/30 Tanner Street, Richmond 412/10 Burnley Street, Richmond 1/63 Erin Street, Richmond 8/7 Adam Street, Burnley 18 Albert Place, Richmond 69 Garfield Street, Richmond 607/1 Dyer Street, Richmond 192 Mary Street, Richmond 1 Gough Place, Richmond 19 Bell Street, Richmond 61 Gardner Sreet, Richmond 4 Vesper Street, Richmond 46 Gibdon Street, Burnley 8/2 The Vaucluse, Richmond 8 Francis Street, Richmond 110/36 Burnley Street, Richmond 427 Punt Road, Richmond 4/8b Park Street, Abbotsford 11 Cotter Street, Richmond 38 Henry Street, Abbotsford 3/10 Lord Street, Richmond 209/28 Burnley Street, Richmond 507/1 Palmer Street, Richmond Suburb Sales. 06/01/2025 07/01/2025 07/01/2025 11/01/2025 13/01/2025 17/01/2025 20/01/2025 21/01/2025 22/01/2025 22/01/2025 29/01/2025 31/01/2025 27/02/2025 27/02/2025 27/02/2025 25/02/2025 24/02/2025 22/02/2025 22/02/2025 22/02/2025 20/02/2025 19/02/2025 19/02/2025 15/02/2025 12/02/2025 07/02/2025 07/02/2025 07/02/2025 06/02/2025 04/02/2025 Address
” “ - G. Bell, Richmond Daniel & Taylah did a fantastic job of helping us with both selling our apartment and purchasing a new home. They are a compassionate real estate agency that consistently treat their clients and stakeholders with common respect and focus on negotiating win-wins rather than pressured sales. The experience was refreshing and restored my faith that there are agents out there who are professional and conduct themselves with integrity. Testimonials.
Daniel Atsis 0408 556 927 daniel.atsis@belleproperty.com Ken Griffith 0418 548 423 ken.griffith@belleproperty.com Daniel Finlayson 0430 110 348 daniel.finlayson@belleproperty.com Amanda Michael 0489 294 727 amanda.michael@belleproperty.com Belle Property Richmond 03 9967 8899 richmond@belleproperty.com Information about this report: We Belle Property Richmond have endeavoured to show all sales reported by all agents and individuals as listed on publicly available sources for the mentioned period. We believe this information to be accurate, whilst all care has been taken, no representation has been made and no responsibility is accepted for the accuracy of the whole or any part of this document. Individuals are directed to rely on their own enquiries. Please disregard this publication if your property is exclusively listed with another agent. Properties displayed are only those which have been publicly listed and sold by multiple agents/cies in the area. We advised you seek independent advice on your area statistics if you are thinking of buying or selling. belleproperty.com Contact.
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