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Redan

The Redan property market has performed strongly over the past 12 months to May 2019.

There have been 93 properties listed over the past 12 months, while 88 have sold. This compares to 147 listings for the same time last year, and 127 sales.

The current median sales price of a house in Redan is $330,000. This represents growth of 8.1% over the past 12 months.

The time it takes to sell a house in Redan is currently 21 days. This timing is -7 days higher than a typical 4 week auction campaign.

For apartments, the median sales price is $232,000. Apartment prices have flattened by 0.9% over the past 12 months. The time it takes to sell a unit in Redan is currently 14 days.

MICRO-SUBURBS
Median (# Sales)
HousesUnits
1$355,250
(62)
$262,500
(26)

Median Sales

House
Unit
$305,330

May 2018
(12 months)

$330,000

May 2019
(12 months)

$230,000

May 2018
(12 months)

$232,000

May 2019
(12 months)

 HouseMedian Sales Price Change inHouseMedian Sales Price

Number of Sales

94
May 2018
(12 months)
73
May 2019
(12 months)

-22.3%

MOVEMENT


33
May 2018
(12 months)
15
May 2019
(12 months)

-54.5%

MOVEMENT

Number of Listings

 House Listings Unit Listings
64
29
19
Days on Market

Rentals

Rental Yield

4.6%

Median Asking Rent

$297.5
per week

Percentage Rented

HOUSES & UNITS
47.4%

Rental Yield

5.6%

Median Asking Rent

$250
per week

Population

Population
2,893

Family Composition

CHILDLESS COUPLE

38.9%

COUPLES WITH CHILDREN

28.8%

SINGLE PARENTS

29.7%

OTHER

1.8%

Tenure Type

RENTING

47.4%

OWNS OUTRIGHT

26.3%

PURCHASING

22.2%

OTHER

0%

Definitions and Disclaimers

Sales metrics are for the period 1 Jun 18 - May 19 unless otherwise stated. For listings, 1 Aug 18 - Jul 19.

The CoreLogic Data provided in this publication is of a general nature and should not be construed as specific advice or relied upon in lieu of appropriate professional advice.

While CoreLogic uses commercially reasonable efforts to ensure the CoreLogic Data is current, CoreLogic does not warrant the accuracy, currency or completeness of the CoreLogic Data and to the full extent permitted by law excludes all loss or damage howsoever arising (including through negligence) in connection with the CoreLogic Data.

The State of Victoria owns the copyright in the Property Sales Data and reproduction of that data in any way without the consent of the State of Victoria will constitute a breach of the Copyright Act 1968 (Cth). The State of Victoria does not warrant the accuracy or completeness of the Property Sales Data and any person using or relying upon such information does so on the basis that the State of Victoria accepts no responsibility or liability whatsoever for any errors, faults, defects or omissions in the information supplied.