Redan (3350) is a suburb in Victoria that continues to attract attention from both homeowners and investors. Located approximately 102km from the Melbourne CBD, the suburb is serviced by 1 schools and benefits from solid transport and amenity access.
Redan has a population of approximately 3,000, a median age of 40, a median weekly household income of $1,183. The suburb has a balanced mix of owner-occupiers (50%) and renters, indicating healthy demand across both segments. Across the broader LGA, 37.9% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (19.7%), Education and Training (11.2%), Retail Trade (10.5%).
The current median house price in Redan is $500,000. Average annual growth sits at 5.2% over five years, reflecting steady capital appreciation. In the past 12 months, prices have increased 11.73%.
Properties in Redan spend an average of 28 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.65%. With inventory levels at just 1.17 months, supply is tight relative to demand. The average vendor discount is -6%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Redan is $395. Gross rental yield is 4.11%, providing a solid income return. Vacancy rate is 1.33%, reflecting healthy rental demand. Rents have grown 3.95% over the past 12 months.
The broader local government area is forecast to grow from 121,179 to 133,163 residents by 2031, representing 9.9% population growth. This level of growth typically supports continued demand for housing and infrastructure investment.
Explore other suburb profiles in the area: Alfredton, VIC, Ballarat Central, VIC, Ballarat East, VIC, Ballarat North, VIC, Golden Point, VIC.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Redan or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.