With a capital gain of 5.97% for the last 12 months, Redan, 3350 has performed for property investments than its average annual 6.08% property growth over the last 5 years.
A 34.80% growth in median value for property investors in Redan,3350 puts this suburb at number 101th in terms of best performing suburbs in VIC
The most recent median price for Redan is $337000, with sellers offering an average of -4.32% off the asking price.
Situated 102.45km from the CBD, Redan is one of Ballarat (C) localities in the postcode 3350.
Property investors who have had real estate in Redan, 3350 should be pleased 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 6.38%
If we look at median property appreciation over just the last three months, Redan has given property investors a paper return of 6.38%. This puts Suburb as 52 on a list of fastest fasting appreciating suburbs in VIC
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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.