Suburb Profile Report for Red Cliffs VIC (3496)

Red Cliffs House: Median price $223,000, Annual capital growth 4.45%, Number of sales 68, Weekly median advertised rent $280

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

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

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  • House Report

VIC has seen average median house prices change by -1.05% which means that Red Cliffs, 3496 has not done well for property investors by showing a capital gain of -1.33% over the last year

Over the longer term, Red Cliffs has seen property prices show investors a 23.89% return over the last 3 years. This is worse than over the last 12 months

When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Red Cliffs, 3496. Typically our figures indicate that -8.35% is being offered, which puts this VIC suburb at 721th most discounted overall in Australia.

Residents and property investors in Red Cliffs have been waiting around 61.4634 days to sell a property.

Information supplied by:


October 2018

M
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House prices skyrocket

Postcode: 3496

Median house price: $229,000

Three-year growth: 30.9%

Rental yield: 6.4%

Located at the northern end of the Mallee region, Red Cliffs is named, appropriately, for the crimson cliffs to the east of the suburb. It is also home to low-priced houses with a median value of just $229,000.

Aside from its affordability, Red Cliffs offers remarkable growth potential as well. Prices have risen consistently and strongly since the five years to July 2018, with the past 12 months alone recording a whopping 16.2% growth.

Red Cliffs obtains water from the Murray River via one of Australia’s largest irrigation pumping stations. The suburb is known for its production of grapes and citrus fruits, which are often sold dried. The restored Red Cliffs railway station is a hub of local crafts, and the suburb has many historical sites for tourists to visit, including the “Big Lizzie” machine and the Red Cliffs Museum and Heritage Room.

Metrics i HOUSE UNIT
$223,000 N/A
9.39% N/A
-1.33% N/A
4.45% N/A
$280 N/A
68 N/A
6.53% N/A
61.4634146341463 N/A

Source: Monthly data update for Sep 2019 as supplied by CoreLogic. Data is reported to the period ending Jun 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Balanced (U)
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Demographics
Total population 4626
Median household income ($/weekly) 819
Median age of persons 41
Median housing loan repayment ($/monthly) 1083
Average household size 2.5
  • Census Count Percent(%)
    5-14 years 629 13.6
    25-34 years 435 9.4
    35-44 years 588 12.7
    45-54 years 713 15.4
    55-64 years 582 12.6
    Others 1679 36.3
    Age Group
    Census Count Percent(%)
    Registered Married 1590 48.1
    Not Married 1387 41.9
    Defacto Relationship 331 10.0
    Social Marital Status
  • Census Count Percent(%)
    Australia 4009 91.3
    Japan 68 1.5
    Papua New Guinea 45 1.0
    United Kingdom 96 2.2
    Other 44 1.0
    Others 131 3.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 26 0.6
    Christianity 2730 65.8
    Islam 35 0.8
    Other Religious Groups 16 0.4
    No Religion 1339 32.3
    Others 3 0.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 182 11.9
    $400-$599 230 15.0
    $600-$799 194 12.7
    $800-$999 192 12.5
    $1,000-$1,249 155 10.1
    Others 577 37.7
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 1461 41.3
    Employed, worked full-time 1189 33.6
    Employed, worked part-time 609 17.2
    Unemployed, looking for work 146 4.1
    Employed, away from work 130 3.7
    Person Characteristics
  • Census Count Percent(%)
    Managers 306 15.8
    Professionals 232 12.0
    Technicians & trades workers 256 13.3
    Sales 217 11.2
    Labourers 371 19.2
    Others 549 28.4
    Occupation
    Census Count Percent(%)
    Pre-school 70 7.1
    Infants/Primary 360 36.5
    Secondary 375 38.0
    Technical or Further Educational Institution 95 9.6
    University or other Tertiary Institutions 60 6.1
    Others 26 2.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4030 94.2
    Semi-detached, row or terrace house, townhouse 116 2.7
    Flat, unit or apartment 93 2.2
    Caravan, cabin, houseboat 29 0.7
    House or flat attached to a shop, office 8 0.2
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Being purchased 647 38.6
    Fully owned 573 34.1
    Rented 445 26.5
    Other tenure type 13 0.8
    Tenure Type
Census 2011, ABS
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