Suburb Profile Report for Redan VIC (3350)

Redan House: Median price $285,000, Annual capital growth 4.21%, Number of sales 105, Weekly median advertised rent $270

Redan Unit: Median price $220,750, Annual capital growth 3.67%, Number of sales 34, Weekly median advertised rent $233

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

Source: CoreLogic

  • House Report
  • Unit Report

Property value increases in Redan have tracked close to the VIC average of 11.69% over the last 12 months.

While Redan,3350 ranked number 379th in VIC for increase in median house value (annualised) increase, it is ranked 512th over the last 5 years.

The most recent median price for Redan is $285000, with sellers offering an average of -5.21% off the asking price.

Often selling an investment property can take time, and in Redan the average time real estate has been on the market is 58.97 days.

The VIC suburb of Redan, 3350 is in the Ballarat local government area.

Property value increases in Redan have tracked just lower than the VIC average of 7.87% over the last 12 months.

Redan,3350 has offered an average of 1.56% return per annum in house price rises to property investors over the last three years.

Property buyers and investors in Redan 3350 should be seeing an average reduction in asking price of around -5.96% . This means that Redan is holding prices well when compared to other suburbs in VIC.

On average over the past year, suburb has had 2.83 sales per month, which equates to 34 per year.

Metrics i HOUSE UNIT
$285,000 $220,750
0.00% 6.39%
9.62% 7.68%
4.21% 3.67%
$270 $233
105 34
4.93% 5.48%
63.85 106.77

Source: CoreLogic

DSR Score for property investment : Good (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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Recent sales & rentals