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.
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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.