Suburb Profile Report for Redan VIC (3350)

Redan House: Median price $305,000, Annual capital growth 4.45%, Number of sales 96, Weekly median advertised rent $275

Redan Unit: Median price $244,500, Annual capital growth 4.27%, Number of sales 32, Weekly median advertised rent $240

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

Redan, 3350 ranked 227th in VIC when comparing growth in median property values or capital gain over the last 12 months. Redan is one of 2098 in our list for VIC

Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Redan has increased when compared to the 5 year average annual rate.

The most recent median price for Redan is $305000, with sellers offering an average of -6.78% off the asking price.

Using the current median advertised rental of $275 and the average annual increase in value of a median property of 4.45%, investors should hope to achieve an overall return of 4.69%

Redan is in the TOP 20% in VIC when comparing median price capital growth over the last year. Redan gave property investors a very good capital gain figure when compared to the rest of the state, with 19.27%.

When looking at the potential capital gains offered to property investors over the last 3 years, Redan comes in at number 244th in VIC.

Redan, 3350 is offering VIC ‘s 167th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

Often selling an investment property can take time, and in Redan the average time real estate has been on the market is 96.68 days.

Using the current median advertised rental of $240 and the average annual increase in value of a median property of 4.27%, investors should hope to achieve an overall return of 5.10%

Metrics i HOUSE UNIT
$305,000 $244,500
2.35% 3.38%
12.44% 19.27%
4.45% 4.27%
$275 $240
96 32
4.69% 5.10%
51 96.68

Source: CoreLogic

DSR Score for property investment : Good (H), Good (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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