Suburb Profile Report for Redan VIC (3350)

Redan House: Median price $272,500, Annual capital growth 4.78%, Number of sales 87, Weekly median advertised rent $260

Redan Unit: Median price $193,000, Annual capital growth 2.66%, Number of sales 25, Weekly median advertised rent $230

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report

Redan, 3350 ranked 407th in VIC when comparing growth in median property values or capital gain over the last 12 months. Redan is one of 2098 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Redan has increased when compared to the 5 year average annual rate.

Redan3350 is located in VIC which offers an average discount of -5.26% to property investors. Redan itself is showing figures that indicate -4.59% is the average achievable by property buyers investing in the suburb.

Residents and property investors in Redan have been waiting around 57.15 days to sell a property.

With the median price for a house in Redan being $272500 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 4.96%

Redan, 3350 ranked 345th in VIC when comparing growth in median property values or capital gain over the last 12 months. Redan is one of 2098 in our list for VIC

Over the longer term, Redan has seen property prices show investors a -1.03% return over the last 3 years. This is worse than over the last 12 months

State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.68% offered to property buyers. Sellers in Redan itself are offering an average vendor discount of -5.15% to real estate investors.

Property investors should expect to get $230 weekly from the median priced house in this suburb.

Metrics i HOUSE UNIT
$272,500 $193,000
0.00% -0.52%
9.66% -8.10%
4.78% 2.66%
$260 $230
87 25
4.96% 6.20%
57.15 112.76

Source: CoreLogic

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 2975
Median household income ($/weekly) 734
Median age of persons 38
Median housing loan repayment ($/monthly) 1105
Average household size 2
  • Census Count Percent(%)
    5-14 years 285 9.6
    25-34 years 452 15.2
    35-44 years 354 11.9
    45-54 years 392 13.2
    55-64 years 371 12.5
    Others 1121 37.7
    Age Group
    Census Count Percent(%)
    Not Married 1291 56.3
    Registered Married 712 31.0
    Defacto Relationship 292 12.7
    Social Marital Status
  • Census Count Percent(%)
    Australia 2575 91.9
    New Zealand 15 0.5
    Papua New Guinea 19 0.7
    United Kingdom 78 2.8
    Other 46 1.6
    Others 70 2.5
    Country of Birth
    Census Count Percent(%)
    Buddhism 22 0.8
    Christianity 1752 65.7
    Islam 14 0.5
    Other Religious Groups 22 0.8
    No Religion 843 31.6
    Others 13 0.5
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 188 15.0
    $400-$599 189 15.0
    $600-$799 168 13.4
    $800-$999 151 12.0
    $1,000-$1,249 115 9.2
    Others 445 35.4
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 969 41.2
    Employed, worked full-time 755 32.1
    Employed, worked part-time 437 18.6
    Employed, away from work 107 4.6
    Unemployed, looking for work 83 3.5
    Person Characteristics
  • Census Count Percent(%)
    Professionals 228 17.6
    Technicians & trades workers 226 17.5
    Community & personal service workers 159 12.3
    Clerical & administrative workers 180 13.9
    Labourers 165 12.8
    Others 335 25.9
    Occupation
    Census Count Percent(%)
    Pre-school 42 6.8
    Infants/Primary 178 29.0
    Secondary 152 24.8
    Technical or Further Educational Institution 76 12.4
    University or other Tertiary Institutions 140 22.8
    Others 26 4.2
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 2203 78.5
    Flat, unit or apartment 423 15.1
    Semi-detached, row or terrace house, townhouse 179 6.4
    Caravan, cabin, houseboat 0 0.0
    Improvised home, tent, sleepers out 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 596 44.8
    Fully owned 372 27.9
    Being purchased 357 26.8
    Other tenure type 6 0.5
    Tenure Type
Census 2011, ABS
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