At number 688th in the list of Australian suburbs ordered by increase in median house value over the last year, Redan, 3350 is in the top 20% with a property value increase of 7.19% recorded in median house prices.
If we look at median property appreciation over just the last three months, Redan has given property investors a paper return of 2.85%. This puts Suburb as 200 on a list of fastest fasting appreciating suburbs in VIC
Property investors looking for a bargain in Redan should be aiming for at least -4.81% off the asking price, which is the average vendor discount being achieved at the moment.
Often selling an investment property can take time, and in Redan the average time real estate has been on the market is 52.4043 days.
Renters in Suburb are facing rents around $15600 per annum or $300 every week.
At number 194th in the list of Australian suburbs ordered by increase in median house value over the last year, Redan, 3350 is in the top 20% with a property value increase of 11.55% recorded in median house prices.
The five-year average increase in median property values for Redan,3350 has given property investors a potential capital gain of 12.38% across each of those five years.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.33% offered to property buyers. Sellers in Redan itself are offering an average vendor discount of -1.94% to real estate investors.
A $262.5 per week rent on the median house gives suburb investors a gross yield of circa 5.14%, without taking into account capital value appreciation, which has been averaging out at 4.19%.
Information supplied by:
Redan, VIC – The complete package in Ballarat
Median unit price: $241,000
Three-year growth: 14.8%
Rental yield: 5.4%
The suburb of Redan was named for the fortifications used in the battle of Sevastopol, Ukraine during the Crimean War. It began as one of the first deep lead gold mines in the region.
One of the inner suburbs in the flourishing Ballarat region, Redan has an advantageous location just directly south of Ballarat Central. Residents are within walking distance of amenities like the Ballarat Base Hospital Shopping hubs like Bridge Mall, Central Square Shopping Centre and Norwich Plaza are nearby, as are the Western Oval and Hickman Street Oval.
Redan has performed tremendously over the past five years to June 2019, offering growth potential, affordability and high yield.