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Redan, VIC 3350

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 Redan, VIC 3350 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 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

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 “Redan, VIC 3350”

  1. The total adult population (15 years or older) of Redan 3350 VIC is 2,547, with a median age of 39. Of those, 27.25% are married, 18.88% are divorced or separated, 47.66% are single and 6.32% are widowed.

    The average household size is 1.9 people per dwelling, and the median household monthly income is estimated to be $5,652. The median monthly mortgage repayment for households in this suburb is $1,300 which is 23.00% of their earnings.

    Source: ABS Census Data (2021)

  2. The suburb of Redan, postcode 3350, is situated in Victoria and hosts an estimated 1,869 households. As we delve into the statistics of Q3, 2023, the typical house prices in Redan are calculated to be $473,850, with the median weekly rent set at $353. These figures produce an indicative yield of approximately 3.87%, just above the minimum market attractiveness for investment-focused property investors.

    The socio-economic health of Redan, according to its IRSAD score, stands at 889 out of a possible 1217. Although it doesn’t touch the upper echelons of the scale, this score signifies that the suburb has a moderately affluent and skilled demographic.

    Emphasising the renter to owner ratio within Redan, we find a relatively high figure of 48%. This raises some concerns as this ratio is above the 45% threshold, indicating a saturation of rental properties, potential risk and high investor competition.

    Interestingly though, the units to houses ratio is quite low, at 19%, which instils some confidence again. This lower proportion implies fewer competition amongst landlords for renters, potentially helping maintain those higher rental yields we mentioned earlier.

    Peering into the affordability index, unfortunately, it indicates a time frame of 33 years to fully own a property, considering variables like current interest rates, median family income, and those typical property prices. This is above the desirable threshold of 30 years and signifies decreased affordability.

    In terms of supply, the stock on market Percentage for houses checks in at 0.82%, a neutral figure. The inventory level averages at 2.36 months, indicating a relatively balanced market. Meanwhile, the building approvals Ratio is 0.52%, signifying a moderate rate of emerging new dwellings.

    Digging into the demand-side statistics, houses in Redan stay an average of 32 days on the market, an excellent figure suggesting high demand. The vacancy rate, coolly combining both houses and units, is 1.8% – a number falling in our defined neutral range.

    Finally, the buy search index for houses in Redan stands at 5, indicating an average level of demand comparable to the state and city averages.

    Fundamentally, Redan’s house market presents a blend of favourable and neutral metrics. While it is crucial to monitor trends and market developments consistently, overall, Redan showcases potential opportunities for profitable property investment. Keep in mind that HtAG Analytics’ RCS can automate much of the above research using a plethora of metrics, easing your investment journey further.

    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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