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Riverside suburb profile

Riverside is a residential suburb on the western banks of the Tamar River just outside Launceston. It has a calm, family-friendly character with mainly single-level brick homes alongside newer housing, and a number of properties that enjoy river outlooks. Local life centres on a neighbourhood shopping strip and recreational facilities, including riverside reserves, walking paths and a golf club, while schools and community services are readily accessible. With straightforward road links into the city, Riverside offers easy access to urban amenities while retaining quieter streets and a focus on outdoor recreation along the river.

Riverside property market performance

Current median dwelling price$631,875Past 3 months

Property growth+7.2%Past 12 months

Riverside has relatively few unit sales, so there isn't enough recent data to publish a reliable median unit price. The median house price is $718,250, with house values rising sharply, up 13.4% over the last 12 months. Unit values edged up 1.0% over the same 12-month period.

Over the last 3 months 29 houses and 4 units sold. Houses sold faster, in a median of 12 days over the last 12 months compared with 39 days for units.

In Riverside, the rental market saw house rents average $585 and rise sharply, up 17.0% over the last 12 months, while unit rents averaged $440 and rose sharply, up 12.8%. House rents grew more strongly than unit rents.

HousesUnits
Median price
Past 3 months
$718KN/A
Change in value
Past 12 months
13.4%1.0%
Sold
Past 3 months
294
Median days on market
Past 12 months
1239
Average rent
Past 12 months
$585$440
Change in rent
Past 12 months
17.0%12.8%

5 year median price trend for houses and units

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Riverside demographics

Riverside is a community of 7,326 people with a median age of 40 and a median total household income of $1,519 a week, roughly $79,000 a year.

Families are a dominant part of the profile: couple families without children are the largest single group at 42.9%, while couple families with children make up 40.7%, together accounting for 83.6% of families. One-parent families represent 15.0% and other families 1.3%.

Homes in Riverside are mostly owner-occupied: 38.9% are owned outright and 35.8% are owned with a mortgage, a combined 74.7%, while 25.3% are rented. Owner-occupiers outnumber renters by roughly three to one.

Suburbs near Riverside

Some popular suburbs near Riverside include:

  • Mowbray: Leafy, established suburb in Launceston's northern suburbs with local parkland.
  • Trevallyn: Hilly suburb centred on bushland and walking tracks in Trevallyn Reserve.
  • Invermay: Riverside inner-city suburb with sports grounds and parkland along the Tamar River.
  • Newnham: Spacious residential suburb on Launceston's northern fringe with parks and reserves.
  • Mayfield: Small, quiet suburb in Launceston's northern area with a low-density, suburban feel.

How does Riverside compare to nearby suburbs?

  • Median house prices: Riverside’s median house price is 21.7% higher than Mowbray’s.
  • Median unit prices: Riverside’s median unit price is 21.2% higher than Newnham’s.
  • House price growth: Over the past 12 months, house prices in Riverside have grown 0.6% higher than in Invermay.
  • Unit price growth: Property prices in nearby Mowbray have risen 24.0% more than in Riverside over the past year.
  • Selling speed for houses: Properties in Riverside are selling 40.0% faster than in Mowbray.
  • Selling speed for units: Properties in nearby Mowbray are selling 41.0% faster than in Riverside.

Choose the right real estate agents in Riverside

Currently, there are 60 real estate agents working in Riverside—but not all agents deliver the same results. The right agent could make a huge difference to your final sale price.

Only 5 out of these 60 agents sold 40.9% of all properties in Riverside over the past year. Choosing one of these top-performing agents means tapping into proven expertise for a better sale outcome.

Real estate agents in Riverside typically charge a commission of 2.38% to 3.25%. Negotiating a fair commission rate and the right structure can motivate your agent to work even harder, helping you sell for more and potentially saving you thousands of dollars.

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