VIC has seen average median house prices change by 8.23% which means that Redan, 3350 has done well for property investors by showing a capital gain of 0.20% over the last year
A 11.36% growth in median value for property investors in Redan,3350 puts this suburb at number 250th in terms of best performing suburbs in VIC
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.99% offered to property buyers. Sellers in Redan itself are offering an average vendor discount of -8.24% to real estate investors.
On average over the past year, suburb has had 4.33 sales per month, which equates to 52 per year.
A $250 per week rent on the median house gives suburb investors a gross yield of circa 5.20%, without taking into account capital value appreciation, which has been averaging out at 3.39%.
Property value increases in Redan have tracked lower than the VIC average of 4.09% over the last 12 months.
Our latest figures would indicate that property sellers in Redan are currently offering property investors an average price cut of -5.53% below the asking price at the moment.
With the median price for a house in Redan being $210000 and the advertised rent reaching $227.5 the gross rental yield for property investors calculates out to be 5.63%