Red Cliffs, 3496 ranked 618th 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
Across a shorter period, Red Cliffs, 3496 has seen a median price increase of -5.44% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Red Cliffs is offering property investors an average of -6.14. This rate of discount on properties puts Suburb at number 41th in terms of most discounted suburbs in VIC
Renters in Suburb are facing rents around $15080 per annum or $290 every week.
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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.