How Much Is My Property Worth in Richmond?
The current median house price in Richmond is $1,360,000, based on 303 recorded house sales over the latest rolling 12-month period. A suburb median does not value an individual home. This guide explains what the Richmond numbers show and what actually influences the value of your property.
Current rolling median house price from 303 recorded Richmond house sales
Change in the house median compared with the previous rolling 12 months
Current rolling house median compared with the 2021 calendar-year peak of $1.50M
Median unit price, up 5.0% on the previous rolling 12 months
What Is My Property Worth in Richmond Right Now?
The Richmond median provides context. Your property’s value depends on what informed buyers will compete to pay for your individual home in the current market.
There is no single formula for determining the value of a Richmond property. Compact period terraces, renovated family homes, contemporary residences and warehouse-style properties can transact at very different levels, even when they are only a short distance apart.
Land, street position, accommodation, condition, renovation quality, parking, orientation and the availability of competing properties all influence how buyers assess value.
A meaningful property appraisal therefore combines recent comparable sales with current buyer demand and an understanding of how your individual property is likely to be received by the market.
$895,500 to $3.315 million.
Fifteen recent Richmond house sales from August and September 2026 plotted across one line. The spread illustrates why the $1.36 million suburb median is a starting point rather than an assessment of an individual home.
Each dot represents a recorded Richmond house sale from the recent sales contained in the supplied report. Source: Pricefinder (Property Data Solutions Pty Ltd 2026), compiled 30 September 2026 by Clements International. © The State of Victoria owns the copyright in the property sales data. The State of Victoria does not warrant the accuracy or completeness of the licensed material and accepts no responsibility or liability for errors, faults, defects or omissions in the information supplied.
Richmond Median House Price, 2016 to 2026
Richmond’s calendar-year house median rose from $1,249,325 in 2016 to a peak of $1,500,000 in 2021. It then eased through 2022, 2023 and 2024 before holding broadly steady in 2025. The 2026 calendar-year median is currently $1,333,000. Separately, the latest rolling 12-month median is $1,360,000.
Calendar-year median house price
VIEW THE DATA
| Year | House sales | Median price |
|---|---|---|
| 2016 | 286 | $1,249,325 |
| 2017 | 243 | $1,300,000 |
| 2018 | 237 | $1,306,500 |
| 2019 | 218 | $1,249,000 |
| 2020 | 197 | $1,370,000 |
| 2021 | 379 | $1,500,000 |
| 2022 | 291 | $1,441,000 |
| 2023 | 256 | $1,402,500 |
| 2024 | 304 | $1,385,000 |
| 2025 | 289 | $1,397,500 |
| 2026 | 159 | $1,333,000 |
Source: Pricefinder (Property Data Solutions Pty Ltd 2026), compiled 30 September 2026 by Clements International. The annual figures above are calendar-year figures. The current $1,360,000 headline figure is a rolling 12-month median and therefore may differ from the 2026 calendar-year median. © The State of Victoria owns the copyright in the property sales data.
Have Richmond House Prices Fallen?
On the latest rolling 12-month figures, yes. Richmond’s current house median is $1,360,000 compared with $1,417,500 in the previous rolling 12-month period, a fall of 4.1%.
On the longer calendar-year series, Richmond reached a median of $1,500,000 in 2021. The current rolling median sits about 9.3% below that level.
What Does That Mean for a Richmond Owner?
A change in the suburb median does not mean that every Richmond home has moved by the same percentage. The mix of homes sold, their land, condition, accommodation, location and price segment all influence the median.
For an individual owner, recent genuinely comparable sales and current buyer demand are more useful than applying a suburb-wide percentage to a previous estimate.
What Sets Property Value in Richmond?
The supplied 2026 data records Richmond house sales ranging from $426,500 to $5,400,000 during the calendar year. Across a market with that degree of variation, the characteristics of the individual property matter considerably.
Street and Position
Richmond values can vary street by street. Traffic, outlook, surrounding development, privacy and the character of the immediate pocket can materially influence buyer response.
Land and Frontage
Land size, frontage, orientation, rear access and the way the site can be used all influence value, particularly where buyers are comparing period homes and renovation opportunities.
Period Character
Richmond’s terraces, cottages and period homes can attract different buyer groups depending on façade, original detail, proportions, accommodation and the quality of previous improvements.
Renovation and Condition
Floorplan, natural light, kitchen and bathroom quality, structural condition and presentation influence how buyers compare one home with the alternatives available at the same time.
Parking and Access
Off-street parking, rear access and practical vehicle access can materially differentiate properties in a densely developed inner-city market.
Scarcity
Properties offering a combination that is difficult to replicate can attract stronger competition because buyers have fewer genuine alternatives.
Are Online Property Estimates Accurate in Richmond?
Online estimates can provide a useful starting point because Richmond has a relatively active market, but an automated model still cannot inspect the individual qualities of your home.
Richmond includes compact terraces, larger renovated homes, contemporary residences and warehouse-style properties. Street position, condition, parking, orientation and renovation quality can create substantial differences between properties that appear similar in automated data.
Property Appraisal Versus Formal Valuation
A property appraisal is an estate agent’s assessment of likely selling value based on recent comparable sales, current buyer demand, competing properties and current market conditions.
A formal valuation required for lending, legal, family law or other formal purposes is prepared by a qualified valuer. If you are considering selling or simply want to understand your current position, a property appraisal is generally the appropriate starting point.
A Director-Led Richmond Property Appraisal
Clements International provides Director-led property appraisals in Richmond, combining recent comparable sales, current buyer demand and local market conditions with the characteristics of your individual property.
Comparable sales are selected for their relevance to the property rather than postcode alone. The objective is to understand where your home sits against the properties buyers are actually comparing in the current market.
What We Consider
- Recent comparable Richmond sales
- Current buyer demand and enquiry levels
- Competing properties currently available
- Street and immediate position
- Land size, frontage, orientation and access
- Architecture, accommodation, condition and presentation
- Parking and practical access
- Scarcity and likely buyer response
Find Out What Your Richmond Property Is Worth
Director-led property appraisals in Richmond and across Yarra, including Cremorne, Burnley, Abbotsford and Collingwood.
Thinking About Selling in Richmond?
Knowing your property’s likely selling value is only the beginning. Timing, preparation, method of sale, price positioning, buyer engagement and negotiation all influence the eventual result.
If you are considering selling, read our Selling Property in Richmond guide or speak with Clements International about the strategy best suited to your property.
Frequently Asked Questions
What Is My House Worth in Richmond?
Your property’s likely selling value depends on recent comparable sales, current buyer demand, competing properties and the individual characteristics of your home. Richmond’s current rolling median house price is $1,360,000, but the supplied 2026 calendar-year data records house sales ranging from $426,500 to $5,400,000. A property appraisal considers where your individual home sits within that market rather than relying on the suburb median alone.
What Is the Median House Price in Richmond?
The current Richmond rolling median house price is $1,360,000, based on 303 recorded house sales. That is 4.1% below the previous rolling median of $1,417,500. The 2026 calendar-year median is currently $1,333,000, which differs because it covers a different reporting period.
Have Richmond House Prices Fallen?
The current rolling house median is down 4.1% compared with the previous rolling 12-month period. Richmond’s calendar-year median peaked at $1,500,000 in 2021. The current rolling median of $1,360,000 is approximately 9.3% below that peak, although individual property values have not all moved by the same amount.
Why Do Richmond Median Prices Differ Between Sources?
Different providers can use different time periods, recorded sales and methodologies. A calendar-year median, quarterly median and rolling 12-month median therefore do not necessarily produce the same result. The current Pricefinder rolling 12-month figure is $1,360,000, while the 2026 calendar-year figure in the supplied report is $1,333,000.
How Much Is an Apartment Worth in Richmond?
The current Richmond median unit price is $581,750, up 5.0% from the previous rolling 12-month median of $554,000. Individual apartment values still depend on factors such as the building, position, size, outlook, parking, condition and owners corporation.
Are Online Property Estimates Accurate in Richmond?
Online estimates can provide a useful starting point but cannot inspect the individual qualities of your property. Richmond’s mix of period terraces, renovated houses, contemporary homes and other property types means that street position, land, condition, parking and presentation can materially affect value.
What Does a House Appraisal in Richmond Include?
A Richmond house appraisal considers recent comparable sales, current buyer demand, competing properties, street position, land, accommodation, condition, parking, presentation and other property-specific characteristics to provide an informed assessment of likely selling value in the current market.
What Is the Difference Between a Property Appraisal and a Valuation?
A property appraisal is an estate agent’s assessment of likely selling value based on market evidence and current conditions. A formal valuation for lending, legal or other formal purposes is prepared by a qualified valuer.
Should I Get an Appraisal if I Am Not Ready to Sell?
Yes. A property appraisal can help you understand where your Richmond property sits in the current market and assist with future decisions around timing, buying, selling, renovating or planning your next move. There is no requirement to be ready to sell before requesting an appraisal.
Related Richmond Property Advice
What Could Your Richmond Property Sell For?
Clear, Director-led property advice based on recent evidence, current buyer demand and the individual qualities of your Richmond property.