Property value increases in Redan have tracked higher than the VIC average of 2.87% over the last 12 months.
A 40.28% growth in median value for property investors in Redan,3350 puts this suburb at number 382th in terms of best performing suburbs in VIC
Vendor discounting in Redan is giving property investors an average Vendor Discount of around -5.42%. This puts suburb at number 399th in VIC when ranking the most discounted suburbs.
A $307.5 per week rent on the median house gives suburb investors a gross yield of circa 4.57%, without taking into account capital value appreciation, which has been averaging out at 5.73%.
Property value increases in Redan have tracked just higher than the VIC average of 6.11% over the last 12 months.
While Redan,3350 ranked number 238th in VIC for increase in median house value (annualised) increase, it is ranked 265th over the last 5 years.
At number 253th of VIC’s most discounted properties, Redan is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Redan is 33th on a list of best yielding suburbs for rents in VIC with a 5.55% return
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.