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Riddells Creek, VIC 3431

Home » VIC Real Estate Data » Macedon Ranges Shire, VIC » Riddells Creek, VIC 3431

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Riddells Creek, VIC 3431 to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

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Rent 

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Yield 

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Buy 

1BR

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Rent 

1BR

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Yield 

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Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Riddells Creek, VIC 3431”

  1. The total adult population (15 years or older) of Riddells Creek 3431 VIC is 3,540, with a median age of 42. Of those, 54.29% are married, 11.78% are divorced or separated, 30.82% are single and 3.02% are widowed.

    The average household size is 2.8 people per dwelling, and the median household monthly income is estimated to be $9,544. The median monthly mortgage repayment for households in this suburb is $2,000 which is 20.96% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Riddells Creek 3431, located in the bustling state of Victoria, Australia, is a residential community estimated to consist of approximately 1898 households.

    As we venture into Q3 of 2023, the typical house prices within the suburb stand at a significant $1,002,625. The weekly rent median sits comfortably at $498, producing an indicative yield of 2.58%. Although this yield is lower than the ideal 3%, it reflects the premium nature of the Riddells Creek property market. The area’s socio-economic score, also known as the IRSAD score, is a commendable 1048 out of 1217, indicating robust economic resources, numerous skilled professionals, and overall affluence within the area.

    In terms of occupancy, Riddells Creek presents a balanced marketplace with an 11% renter to owner ratio, which is much lower than the cautionary threshold of 30% and implies a preference towards homeownership. Moreover, housing type distribution tilts heavily towards traditional houses as opposed to units, reflected in a low units to houses ratio of 9%.

    However, Riddells Creek presents a notable affordability challenge. The affordability index, which measures how long it would typically take to fully own a house, stands relatively high at 41 years — an indication of the formidable property prices within the area.

    Peering into the supply side of the market, houses in Riddells Creek register a stock on market percentage of 0.56%, falling within the neutral range. The inventory level just surpasses the favourable threshold reaching 2.16 months, indicating a moderate supply or moderate absorption in the local housing market. The building approvals ratio further substantiates this with a value of 1.24%, which is below the 2% threshold indicating increased supply.

    Stepping into demand metrics, houses in Riddells Creek spend an average of 100 days on the market. Contrastingly, the area’s vacancy rate is relatively low (3.21%) with a standard buy search index for houses at 5, intimating a balanced market demand.

    To summarise, Riddells Creek presents a premium property market with a strong socio-economic profile and a healthier tilt towards homeownership. While the high housing prices and investment yield slightly below the desired minimum pose challenges, demand and supply indicators offer moderate appeal. It’s beneficial for investors to keenly monitor updates and maintain a watchful eye on market trends, valuing markets not just by static metrics but their growth trend, as evident in our RCS model.

    Note the importance of viewing the property market holistically: while a slightly lower investment yield might seem unfavorable, owing to the robust socio-economic profile and low unit-to-house ratio, Riddells Creek’s property market still retains significant appeal for potential investors.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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