October 2026 data · Yarra · VIC
Richmond house prices: median price and growth
- Median house
- $1.34m ▼ −2.9% in 12 months
- Median unit
- $549k ▼ −3.7% in 12 months
The median house price in Richmond is $1.34m (October 2026), down 2.9% over 12 months. Units have a median of $549k, down 3.7% over 12 months. That puts Richmond below the typical Inner Melbourne suburb ($1.63m) and number 8 of the 12 suburbs around it.
Median house price
- $2.25M+
- $2M–$2.25M
- $1.75M–$2M
- $1.5M–$1.75M
- $1.25M–$1.5M
- $1M–$1.25M
- $750K–$1M
- $500K–$750K
- <$500K
Richmond price changes
| Type | Median | 3 mo | 6 mo | 12 mo |
|---|---|---|---|---|
| House | $1.34m | ▼ −0.4% | ▼ −2.0% | ▼ −2.9% |
| Unit | $549k | ▼ −3.5% | ▼ −2.0% | ▼ −3.7% |
Changes compare the median with three, six and twelve months earlier. A dash means too few sales for a reliable figure. How these figures are worked out.
Richmond compared with nearby suburbs
Suburbs within about 1 km of Richmond, dearest house median first. Select a column heading to sort.
| House | Unit | |||||||
|---|---|---|---|---|---|---|---|---|
| Toorak | $4.75m | ▲ +1.6% | ▼ −2.3% | ▼ −20.8% | $915k | ▼ −3.7% | ▼ −3.2% | ▼ −7.6% |
| East Melbourne | $2.95m | ▲ +0.1% | ▼ −3.2% | ▲ +0.1% | $703k | ▼ −2.7% | ▲ +1.5% | ▼ −3.7% |
| Kew | $2.46m | ▼ −1.9% | ▼ −3.1% | ▼ −6.4% | $887k | ▲ +4.1% | ▲ +0.2% | ▲ +10.9% |
| Hawthorn | $2.36m | ▼ −14.6% | ▼ −15.6% | ▼ −20.7% | $582k | ▼ −1.2% | ▲ +1.9% | ▲ +1.2% |
| South Yarra | $2.02m | ▲ +1.8% | ▼ −2.2% | ▼ −8.0% | $530k | ▼ −1.9% | ▼ −7.0% | ▼ −7.8% |
| Fitzroy | $1.42m | ▼ −6.8% | ▼ −8.3% | ▼ −20.5% | $828k | ▲ +10.0% | ▲ +7.1% | ▲ +7.1% |
| Burnley | $1.39m | ▲ +1.3% | ▼ −2.8% | ▲ +9.9% | $515k | ▼ −0.4% | ▼ −5.7% | ▼ −1.3% |
| Richmond | $1.34m | ▼ −0.4% | ▼ −2.0% | ▼ −2.9% | $549k | ▼ −3.5% | ▼ −2.0% | ▼ −3.7% |
| Collingwood | $1.33m | ▲ +0.2% | ▲ +4.9% | ▲ +10.8% | $599k | ▼ −1.0% | ▼ −0.2% | ▼ −3.2% |
| Cremorne | $1.33m | ▲ +10.8% | ▲ +7.7% | ▲ +7.9% | $620k | ▼ −0.2% | ▼ −7.5% | ▲ +2.1% |
| Abbotsford | $1.26m | ▼ −6.4% | ▲ +0.2% | ▼ −1.0% | $525k | ▲ +1.3% | ▼ −0.9% | ▲ +1.1% |
| Melbourne | $550k | ▲ +14.7% | ▲ +25.9% | ▼ −56.4% | $460k | 0.0% | 0.0% | ▲ +0.9% |
Living in Richmond
From the 2021 ABS Census: Richmond against the Yarra council area and VIC. Council and state percentages count all their residents; their medians are the middle suburb by population.
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| Figure | Richmond | Yarra (council) | VIC |
|---|---|---|---|
| People | |||
| Population | 28,587 | 100,043 | 6,503,500 |
| Median age | 34 | 34 | 39 |
| Families with children | 🔒 | 🔒 | 🔒 |
| Born overseas | 30.4% | 28.1% | 30.0% |
| Language other than English at home | 🔒 | 🔒 | 🔒 |
| Work and education | |||
| Median household income | $2,245/wk | $2,245/wk | $1,856/wk |
| Median personal income | 🔒 | 🔒 | 🔒 |
| Professionals and managers | 🔒 | 🔒 | 🔒 |
| Unemployment | 🔒 | 🔒 | 🔒 |
| Bachelor degree or higher | 🔒 | 🔒 | 🔒 |
| Completed Year 12 | 🔒 | 🔒 | 🔒 |
| Housing | |||
| Owned outright | 🔒 | 🔒 | 🔒 |
| Owned with a mortgage | 🔒 | 🔒 | 🔒 |
| Rented | 54.7% | 52.0% | 28.5% |
| Separate houses | 🔒 | 🔒 | 🔒 |
| Flats and apartments | 🔒 | 🔒 | 🔒 |
| Median weekly rent | 🔒 | 🔒 | 🔒 |
| Median mortgage repayment | 🔒 | 🔒 | 🔒 |
| Advantage | |||
| SEIFA advantage (IRSAD), Australian decile | 🔒 | 🔒 | 🔒 |
🔒 Age, occupation and ancestry breakdowns for Richmond, its council and VIC
Source: ABS Census of Population and Housing 2021. More figures, maps and the 2016 Census are in Location Insights.
Common questions
What is the median house price in Richmond?
The median house price in Richmond was $1.34m in October 2026, down 2.9% on a year earlier. The typical Inner Melbourne suburb median was $1.63m.
What is the median unit price in Richmond?
The median unit price in Richmond was $549k in October 2026, down 3.7% over 12 months.
Is Richmond more expensive than nearby suburbs?
Of the 11 neighbouring suburbs with a median house price, 7 are dearer than Richmond and 4 are cheaper or the same.
Where does this data come from?
Prices come from REA sales data for October 2026, all bedroom counts, refreshed monthly. Medians cover sales over the past 12 months; changes are shown only where at least 10 homes of that type sold.