Red Cliffs

Red Cliffs, VIC 3496, a suburb with a population of 5294 residents, has a mix of age groups with the largest being those aged 5 to 19 years and 45 to 64 years. The median household income weekly is $1,290. The top three occupations are Managers, Technicians and Trade workers, and Professionals. Commuting is mainly by motor vehicle and a significant portion work from home. For houses in Red Cliffs, with a median sale price below $500,000, a moderate rental yield of 5.3%, high market absorption rate of 45.0%, and a high room demand-supply ratio, it appears to be a suburb with potential for investors. The unit market also shows promise with a high market absorption rate of 50.0% reflecting strong demand. Both housing types have shown consistent median growth over the past years. Red Cliffs presents opportunities for both homeowners and investors. With a relatively affordable housing market, steady median growth, and high demand indicated by the market absorption rates, it may be an attractive suburb for those looking to invest in property. The commuter-friendly location and the prevalence of professionals and trade workers in the area contribute to its appeal for potential residents. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022