Richmond - North

Richmond - North lies within the top quartile of areas nationally for population growth performance according to AreaSearch analysis of recent, and medium to long-term trends

Richmond - North's population was approximately 15,372 as of November 2025. This figure shows an increase of 1,505 people since the 2021 Census, which reported a population of 13,867. The change is inferred from the estimated resident population of 15,323 in June 2024 and an additional 569 validated new addresses since the Census date. This results in a population density ratio of 8,006 persons per square kilometer, placing Richmond - North in the top 10% of national locations assessed by AreaSearch. The area's growth rate of 10.9% since the 2021 census exceeds both the national average (8.9%) and the state average, indicating it as a regional growth leader. Overseas migration accounted for approximately 89.9% of overall population gains during recent periods in Richmond - North.

AreaSearch uses ABS/Geoscience Australia projections for each SA2 area released in 2024 with a base year of 2022, and VIC State Government's Regional/LGA projections released in 2023 adjusted using weighted aggregation methods for areas not covered by the former data. Growth rates by age group are applied across all areas from these aggregations for years 2032 to 2041. Future population dynamics predict exceptional growth, with Richmond - North expected to increase by 7,286 persons to 2041 based on the latest annual ERP population numbers, reflecting a total increase of 47.0% over the 17-year period.

Residential development activity is lower than average in Richmond - North according to AreaSearch's national comparison of local real estate markets

Richmond - North has been granted approximately 75 residential property approvals annually. Over the past five financial years, from FY21 to FY25, around 375 homes were approved, with a further 487 approved in FY26 so far. On average, about 0.7 people have moved to the area each year for every dwelling built over these five years.

This indicates that supply is meeting or exceeding demand, offering more buyer choices and potential population growth above projections. The average construction value of new homes has been $263,000, which is below regional norms, providing more affordable housing options. Commercial development activity in Richmond - North has seen approximately $20.8 million in approvals this financial year, suggesting balanced commercial growth. Compared to Greater Melbourne, Richmond - North has around three-quarters the rate of new dwelling approvals per person and ranks among the 14th percentile nationally, indicating somewhat limited buyer options but strengthening demand for established homes.

Recent construction trends show 9.0% detached dwellings and 91.0% medium to high-density housing, appealing to downsizers, investors, and entry-level buyers due to accessible entry options. With around 1121 people per dwelling approval, Richmond - North reflects a mature market with population forecasts indicating an increase of 7,233 residents by 2041. If current development rates continue, housing supply may struggle to match population growth, potentially intensifying buyer competition and supporting price increases.

Richmond - North has strong levels of nearby infrastructure activity, ranking in the top 30% nationally

Changes to local infrastructure significantly influence an area's performance. AreaSearch has identified a total of 30 projects that may impact the area. Key projects include Elizabeth Street North Richmond Social Housing, Victoria Gardens Redevelopment, Riverbend - The Park House, and 675 Victoria Street Development. Below is a list detailing those most likely to be relevant.

Professional plan users can use the search below to filter and access additional projects.

Denotes AI-based impression for illustrative purposes only, not to be taken as definitive under any circumstances. Please follow links and conduct other investigations from the project's source for actual imagery. Developers and project owners wishing us to use original imagery please Contact Us and we will do so.

Richmond - North has seen below average employment performance when compared to national benchmarks

Richmond - North has an educated workforce with professional services well-represented. The unemployment rate in September 2025 was 7.8%, with estimated employment growth of 4.8% over the past year.

As of this date, 10,180 residents were employed while the unemployment rate was 3.1% higher than Greater Melbourne's rate of 4.7%. Workforce participation in Richmond - North was 71.6%, compared to Greater Melbourne's 64.1%. The dominant employment sectors among residents include professional & technical, health care & social assistance, and retail trade. The area specializes particularly in professional & technical services with an employment share of 1.7 times the regional level.

Construction has limited presence with 6.4% employment compared to 9.7% regionally. There were 1.1 workers for every resident as at the Census, indicating it functions as an employment hub attracting workers from surrounding areas. Over the 12 months to September 2025, employment increased by 4.8% while labour force increased by 4.9%, causing the unemployment rate to rise by 0.1 percentage points. In contrast, Greater Melbourne saw employment rise by 3.0%, labour force grow by 3.3%, and unemployment increase by 0.3 percentage points. State-level data as of 25-Nov shows VIC employment grew by 1.13% year-on-year, with the state unemployment rate at 4.7%. National employment forecasts from May-25 suggest national employment will expand by 6.6% over five years and 13.7% over ten years. Applying these projections to Richmond - North's employment mix suggests local employment should increase by 7.2% over five years and 14.5% over ten years.

Income metrics indicate excellent economic conditions, with the area achieving higher performance than 75% of national locations assessed by AreaSearch

Richmond - North SA2 had a median taxpayer income of $63,615 and an average of $84,961 in financial year 2022. This was significantly higher than Greater Melbourne's median income of $54,892 and average income of $73,761 during the same period. By September 2025, based on a 12.16% increase from the Wage Price Index since financial year 2022, estimated incomes would be approximately $71,351 (median) and $95,292 (average). According to Census 2021 income data, individual earnings at the 90th percentile nationally were $1,183 weekly. In Richmond - North SA2, 32.6% of individuals earned between $1,500 and $2,999 per week, similar to the metropolitan region where 32.8% fell within this range. Housing costs consumed 17.7% of income in the area, but strong earnings placed disposable income at the 63rd percentile nationally. The area's SEIFA income ranking placed it in the 8th decile.

Richmond - North features a more urban dwelling mix with significant apartment living, with a higher proportion of rental properties than the broader region

Richmond - North's dwelling structure, as per the latest Census, had 10.8% houses and 89.1% other dwellings (semi-detached, apartments, 'other' dwellings). This compares to Melbourne metro's 12.8% houses and 87.2% other dwellings. Home ownership in Richmond - North was at 15.4%, with mortgaged dwellings at 22.9% and rented at 61.6%. The median monthly mortgage repayment was $2,047, below Melbourne metro's average of $2,326. Median weekly rent was $400, compared to Melbourne metro's $451. Nationally, Richmond - North's mortgage repayments exceeded the Australian average of $1,863, while rents were higher than the national figure of $375.

Richmond - North features high concentrations of lone person households and group households, with a lower-than-average median household size

Family households account for 48.1% of all households, including 12.5% couples with children, 25.6% couples without children, and 7.9% single parent families. Non-family households make up the remaining 51.9%, with lone person households at 41.7% and group households comprising 10.3%. The median household size is 1.9 people, which is smaller than the Greater Melbourne average of 2.0.

The educational profile of Richmond - North exceeds national averages, with above-average qualification levels and academic performance metrics

Richmond - North has a higher proportion of residents aged 15 and above with university qualifications than the national average. Specifically, 52.9% of its residents have such qualifications compared to 30.4% in Australia as a whole and 33.4% in Victoria (VIC). This educational advantage could potentially open up more opportunities for knowledge-based careers in the area. Bachelor degrees are the most common type of university qualification held by residents, at 35.6%.

Postgraduate qualifications follow with 12.9%, while graduate diplomas account for 4.4% of qualifications among those aged 15 and above. Vocational pathways make up 20.0% of qualifications in this age group, with advanced diplomas comprising 9.6% and certificates making up 10.4%. Educational participation is notably high in Richmond - North, with 25.4% of residents currently enrolled in formal education programs. This includes 10.8% pursuing tertiary education, 4.8% in primary education, and 3.9% working towards secondary education completion.

Transport servicing is high compared to other areas nationally based on assessment of service frequency, route connectivity and accessibility

Richmond-North has 32 active public transport stops. These serve a mix of train, light rail, and bus routes, totaling 8 individual lines. Together, these provide 7,225 weekly passenger trips.

The area's transport accessibility is rated good, with residents located an average of 204 meters from the nearest stop. Service frequency averages 1,032 trips per day across all routes, translating to approximately 225 weekly trips per individual stop.

Richmond - North's residents are extremely healthy with both young and old age cohorts seeing low prevalence of common health conditions

Analysis of health metrics shows strong performance throughout Richmond - North. Both young and old age cohorts saw low prevalence of common health conditions. The rate of private health cover was exceptionally high at approximately 62% of the total population (9,592 people), compared to 69.8% across Greater Melbourne.

Nationally, this average is 55.3%. Mental health issues and asthma were found to be the most common medical conditions in the area, impacting 10.5 and 8.5% of residents respectively. A total of 71.1% declared themselves completely clear of medical ailments compared to 70.6% across Greater Melbourne. The area has 11.7% of residents aged 65 and over (1,803 people). Health outcomes among seniors are particularly strong, broadly in line with the general population's health profile.

Richmond - North is among the most culturally diverse areas in the country based on AreaSearch assessment of a range of language and cultural background related metrics

Richmond-North scores highly on cultural diversity, with 33.9% speaking a language other than English at home and 39.2% born overseas. Christianity is the main religion, comprising 30.9%. Buddhism is overrepresented at 9.0%, compared to Greater Melbourne's average of 3.6%.

The top three ancestry groups are English (21.0%), Australian (15.8%), and Other (11.0%). Notably, Vietnamese (7.5%) and Chinese (8.1%) are overrepresented in Richmond-North compared to regional averages of 2.4% and 4.4%, respectively. Greek representation is also notable at 3.2%.

Richmond - North hosts a young demographic, positioning it in the bottom quartile nationwide

Richmond-North has a median age of 33, which is younger than Greater Melbourne's figure of 37 and Australia's national average of 38 years. Compared to Greater Melbourne, Richmond-North has a higher proportion of residents aged 25-34 (33.7%) but fewer residents aged 5-14 (4.3%). This concentration of 25-34 year-olds is significantly higher than the national average of 14.5%. Between the 2016 and 2021 censuses, Richmond-North's median age decreased by 1.1 years to 33 from 34. The proportion of residents aged 25-34 increased from 31.2% to 33.7%, while the proportions for those aged 5-14 and 45-54 decreased to 4.3% and 10.1%, respectively, from 5.8% and 11.2%. By 2041, demographic projections suggest that Richmond-North's age profile will change significantly, with the 25-34 age cohort expected to increase by 1,720 people (33%), reaching a total of 6,901 residents in this age group.