Suburb Profile Report for Redan VIC (3350)

Redan House: Median price $251,000, Annual capital growth 3.41%, Number of sales 59, Weekly median advertised rent $250

Redan Unit: Median price $210,000, Annual capital growth 3.11%, Number of sales 24, Weekly median advertised rent $220

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

Source: CoreLogic

  • House Report
  • Unit Report

Giving property investors a an unimpressive capital gain of 1.62% for the last year, Redan, 3350 is the 2592th highest performer in Australia in this respect.

While Redan,3350 ranked number 428th in VIC for increase in median house value (annualised) increase, it is ranked 474th over the last 5 years.

At number 118th of VIC’s most discounted properties, Redan is in the bottom 20% of the state/territory when listing in order of most discounted to least.

Often selling an investment property can take time, and in Redan the average time real estate has been on the market is 95.64 days.

Situated 102.54km from the CBD, Redan is one of Ballarat localities in the postcode 3350.

Property investors who have had real estate in Redan, 3350 should be ok with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 3.44%

Property buyers and investors in Redan 3350 should be seeing an average reduction in asking price of around -5.08% . This means that Redan is holding prices well when compared to other suburbs in VIC.

Residents and property investors in Redan have been waiting around 122.44 days to sell a property.

HOUSE UNIT
$251,000 $210,000
0.40% N/A
1.62% 3.44%
3.41% 3.11%
$250 $220
59 24
5.18% 5.45%
95.64 122.44

Source: CoreLogic

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