7 Mcgoun Street, Richmond VIC 3121, Australia
Data last updated: 07 Jul 2025
Current Market Valuation
Estimated market value: $1,000,000 - $1,100,000
Notes: Newly built freehold three-level townhouse with modern finishes, secure garage parking, and individual street address. Located in an established heritage-protected area, offering proximity to Bridge Road shops, Richmond Traders, and the MCG. Features boutique and curated designs. The property is currently listed as 'Expressions of Interest' with a closing date of Tuesday 29th July at 2pm. The land size is approximately 51m², which is typical for an inner-city townhouse with a vertical layout.
Purchase History
Property Details
Type:
Townhouse
Bedrooms:
2
Bathrooms:
2
Land (sqm):
51
Car/Garage:
1 (garage)
Estimated weekly rent:
$750
Based on the median weekly rent for 2-bedroom houses in Richmond, given the property is a newly built townhouse in a high-demand rental area.
Rental vacancy rate:
2.4% (for houses in Richmond)
Council rate:
Requires direct inquiry
Water rate:
Requires direct inquiry
Strata fee:
N/A (Freehold title)
Home and content insurance price:
Requires direct inquiry
Zoning Information
LGA:
Yarra City Council
Zoning:
Residential (Specific zone not detailed in public search; requires direct council inquiry)
Bushfire:
No
Flood:
No
Heritage:
Yes (Located in an established heritage-protected area)
Potential Developments in the Area
State Government:
Big Housing Build - Elizabeth Street Precinct (North Richmond): Redevelopment of social housing, including 144 new 1, 2, and 3-bedroom homes nearing completion (mid-2025) at 147-161 Elizabeth Street. Other sites undergoing relocation for future redevelopment by 2032 (e.g., 139 Highett Street, 111, 119, 127 Elizabeth Street, 6 & 8 Anderson Court, 1-5, 7 & 9 Williams Court).
Local Government:
Numerous new and off-the-plan apartment and townhouse developments are ongoing across Richmond, making it an attractive option for professionals and families.
Features
Location 7 Mcgoun Street, Richmond VIC 3121, Australia
What's Nearby
Education
Health & Medical
Transportation
Bridge Road (Trams) - Tram
West Richmond Station - Train (walking access)
Melbourne CBD (approx. 3.5km) - Train/Tram/Bus access
Suburb Performance
Median Price History
Richmond is a highly sought-after inner-city suburb known for its vibrant culture, proximity to the CBD, and a mix of residential properties. It has transformed from a working-class area to a hub for young professionals and families. The market experiences strong buyer interest, with properties typically spending around 27-35 days on market.
Current (Past 12 Months) | $1,405,500
12-Month Growth Insight
Mixed growth for houses, with reports ranging from -5.3% to +1.8% over the past 12 months.
Strong buyer interest, with houses typically selling within 27-35 days on market.
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