Suburb Profile Report for Redan VIC (3350)

Redan House: Median price $255,000, Annual capital growth 3.95%, Number of sales 80, Weekly median advertised rent $260

Redan Unit: Median price $193,750, Annual capital growth 2.89%, Number of sales 18, Weekly median advertised rent $225

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

Source: CoreLogic

  • House Report
  • Unit Report

Giving property investors a an average capital gain of 4.08% for the last year, Redan, 3350 is the 2346th highest performer in Australia in this respect.

Taking the average capital gain, or increase in median house value, Redan,3350 has racked up an average of 4.08% over the period. This ranks it number 3233th in the whole country for real estate investors looking at median house price increases.

Vendor discounting in Redan is giving property investors an average Vendor Discount of around -4.98%. This puts suburb at number 354th in VIC when ranking the most discounted suburbs.

In the last year 80 properties changed hands in Redan, which puts it as the 315th most active market in VIC when comparing the number of sales per suburb.

With the median price for a house in Redan being $255000 and the advertised rent reaching $260 the gross rental yield for property investors calculates out to be 5.30%

Redan is in the bottom 20% in VIC when comparing median price capital growth over the last year. Redan gave property investors a dismal capital gain figure when compared to the rest of the state, with -7.74%.

A -4.79% growth in median value for property investors in Redan,3350 puts this suburb at number 350th in terms of best performing suburbs in VIC

Redan3350 is located in VIC which offers an average discount of -5.03% to property investors. Redan itself is showing figures that indicate -4.60% is the average achievable by property buyers investing in the suburb.

In the last year 18 properties changed hands in Redan, which puts it as the 313th most active market in VIC when comparing the number of sales per suburb.

Situated 102.63km from the CBD, Redan is one of Ballarat localities in the postcode 3350.

Metrics i HOUSE UNIT
$255,000 $193,750
0.39% -5.49%
4.08% -7.74%
3.95% 2.89%
$260 $225
80 18
5.30% 6.04%
70.51 94.37

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (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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