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Redan suburb profile

Redan is a charming suburb located just south of Ballarat's city centre in Victoria, known for its rich history and community-oriented atmosphere. This suburb offers a mix of period homes and modern developments, providing a diverse range of housing options. Redan is well-served by local amenities, including schools, parks, and shopping facilities, making it an attractive choice for families and retirees. Its proximity to Ballarat's central business district ensures easy access to a wider array of services and entertainment options. With its blend of historical charm and modern conveniences, Redan continues to be a desirable location for residents seeking a balanced lifestyle.

Redan property market performance

Current median dwelling price$475,000Past 3 months

Property growth+17.9%Past 12 months

Redan's property market has experienced robust growth over the past 12 months, with house values increasing by 15.6% and unit values rising by 14.6%. The current median house price stands at $520,000, while the median unit price is $453,125, indicating strong demand across both property types.

Sales activity has been moderate, with 18 houses and 10 units sold in the past 12 months. Houses are selling relatively quickly, with a median of 27 days on the market, while units are moving even faster at 18 days, suggesting a competitive market environment.

The rental market in Redan has also seen positive changes, with average rents for houses increasing by 5.3% and units by 7.5% over the last year. This reflects a healthy demand for rental properties in the area.

HousesUnits
Median price
Past 3 months
$523K$428K
Change in value
Past 12 months
17.4%18.4%
Sold
Past 3 months
2110
Median days on market
Past 12 months
2715
Average rent
Past 12 months
$400$363
Change in rent
Past 12 months
5.3%8.4%

5 year median price trend for houses and units

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Redan demographics

Redan, a suburb located in the regional city of Ballarat, Victoria, offers a blend of historical charm and modern convenience. With a population of around 3,000, Redan is a close-knit community that appeals to a diverse range of residents, from families to retirees. The median age of 39 suggests a mature community, with a balanced mix of working professionals and families who appreciate the suburb's quiet, suburban lifestyle.

The housing landscape in Redan is varied, with nearly half of the properties being rented, indicating a flexible living arrangement that suits both transient residents and those seeking long-term stability. Approximately 26.7% of homes are owned outright, while 24.5% are owned with a mortgage, reflecting a stable property market that attracts both new buyers and established homeowners. The suburb's affordability, with a median household income of $1,061 per week, makes it an attractive option for those looking to settle in a regional area without the high costs associated with metropolitan living.

Family dynamics in Redan are diverse, with couple families without children making up the largest segment at 39.7%, followed by one-parent families at 30.7%. This diversity in family structures contributes to a rich community fabric, supported by local amenities and services that cater to various needs. Redan's proximity to Ballarat's city center provides residents with easy access to shopping, dining, and cultural activities, while still offering the tranquility of suburban life. Overall, Redan presents a balanced lifestyle with the benefits of both urban and rural living.

Suburbs near Redan

Some popular suburbs near Redan include:

How does Redan compare to nearby suburbs?

  • Median house prices: Redan’s median house price is 0.5% lower than Sebastopol’s.
  • Median unit prices: Redan’s median unit price is 8.2% higher than Sebastopol’s.
  • House price growth: Over the past 12 months, house prices in Redan have grown 1.1% higher than in Sebastopol.
  • Unit price growth: Over the past 12 months, unit prices in Redan have grown 7.3% higher than in Sebastopol.
  • Selling speed for houses: Properties in Redan are selling 6.9% faster than in Mount Pleasant.
  • Selling speed for units: Properties in Redan are selling 6.3% faster than in Sebastopol.

Choose the right real estate agents in Redan

Choosing the right real estate agent in Redan can have a big impact on your sale. While there are 65 real estate agents working in the suburb, but just 5 of them were responsible for 26.1% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 2.13% to 3.25%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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