Question 1

Is Redan a nice place to live?

Accepted Answer

Redan is an inner Ballarat suburb of established, mostly residential streets where Victorian and interwar cottages and weatherboard homes sit alongside pockets of newer townhouses. Lying close to the city centre, it has straightforward access to Ballarat’s train services, bus routes and main roads, and local shops, parks and community facilities that meet everyday needs. The suburb is home to about 3,000 people with a median age of 39 and a typical household income of $1,061 a week.

The community mixes long-term residents, young families and people seeking well-located housing; just over half of homes are owner-occupied while 48.8% are rented. Council projects are improving local connections with new shared paths into parks and the sports precinct, and a Redan Creek Wetlands revitalisation is under way with works to stabilise banks, remove weed and litter, and upgrade paths and access. Whether that combination suits you comes down to what you want from a suburb.

Question 2

Is it expensive to live in Redan?

Accepted Answer

At a median house price of $550,000, buying in Redan works out to about 10.0 times a typical local annual household income at the last Census. Renting also takes a noticeable share: a house rent of $400 a week is about 37.7% of a typical local household's weekly income at the last Census, and unit rent of $370 a week is about 34.9%. On these figures, buying is much more stretched against local incomes, while renting would still take a sizeable share of a typical household's income. Whether that feels expensive depends on your own income and circumstances.

Everyone's financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.

Question 3

Is Redan a good place to invest?

Accepted Answer

The clearest movement in Redan over the past year is in unit values, which rose 24.2%, a strong increase. House values also posted a strong rise, up 18.8%, so on the capital growth side both property types increased over the 12 months, with units outpacing houses.

Rents climbed too, but by less: unit rents were up 10.4% (strong) while house rents rose 5.3% (a solid gain). If rental income is your priority, the unit side showed the larger rise this year; if capital growth matters most, both houses and units recorded strong value gains but units grew faster. Whether that pattern fits your goals and circumstances is for you to decide.

This information has been prepared without taking your objectives, needs and overall financial situation into account. It is not meant to be a substitute for professional financial advice. For this reason, you should consider the appropriateness of the information and, if necessary, seek appropriate professional advice.

	Houses	Units
Median price Past 3 months	$550K	N/A
Change in value Past 12 months	18.8%	24.2%
Sold Past 3 months	29	7
Median days on market Past 12 months	24	15
Average rent Past 12 months	$400	$370
Change in rent Past 12 months	5.3%	10.4%

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