Red Cliffs, 3496 ranked 588th in VIC when comparing growth in median property values or capital gain over the last 12 months. Red Cliffs is one of 2099 in our list for VIC
A 28.48% growth in median value for property investors in Red Cliffs,3496 puts this suburb at number 293th in terms of best performing suburbs in VIC
Our latest figures would indicate that property sellers in Red Cliffs are currently offering property investors an average price cut of -9.36% below the asking price at the moment.
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House prices skyrocket
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.