red hill

3937, Victoria

Real Estate & Property Information

Median
Price Rank
149

red hill Suburb Profile & Review

Seemingly a different world from its coastal neighbours, Red Hill is set high in the Mornington Peninsula hinterland between Port Phillip Bay and Western Port Bay. Situated little over an hour from Melbourne, the beach is just ten minutes away in either direction at Dromana or Merricks.

Red Hill is known as a large wine-growing region on the Peninsula. Red Hill Estate is the most popular winery to visit, in particular because of its highly-reputed restaurant Max's. The Red Hill Brewery provides a nice change from the wineries that populate the area, because it produces award-winning boutique ales. The brewery also has a restaurant on site, which provides beer-friendly meals for patrons to enjoy with their brews. There are orchards and berry farms scattered between the wineries, many of which let you pick your own fruit.

The Red Hill Consolidated School is a well-reputed primary school in the town, and there are also other schools down towards the Port Phillip Bay coastline around Dromana. The town's commercial centre can be found at the intersection of Shoreham Road and Arthurs Seat Road. Here locals do their amenities shopping and meet for coffee in quaint cafes.

red hill Demographic Data

$ 623,000 Median House Price

64 Minutes Average Commute

45 Median Age

731 Population

49.79 % Female

50.21 % Male

196 NO OF FAMILIES

1.9 AVG CHILDREN PER FAMILY

0.9 AVG MOTOR VEHICLE PER DWELLING

What this means

The following data, without any explanation, is just that, raw data. So in order to help you research the property market, we have outlined what this demographic and real estate information means and how it can be interpreted to help you make a smarter decision when buying or selling your next house or unit in red hill, Victoria.

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red hill Demographic Data

The demographic data below has been supplied by the Australian Bureau of Statistics (ABS), which is a government body. It is based on Census data collected every 5 years on the Australian population. Although it is dated 2011, this is the latest data available and should give property investors, property buyers and sellers a very good idea when researching or reviewing their suburb.

It’s important to note when looking at this data that you don’t just use it on its own. Consider this demographic and real estate data as a whole and seek advice from a professional when thinking of buying or selling your next property.

red hill Median House Prices

  • 2008 $ 432,000
  • 2009 $ 480,000
  • 2010 $ 545,000
  • 2011 $ 630,000
  • 2012 $ 623,000

What this means

Median values are the most accepted measure of property values in the real estate industry in Australia. The median is the midpoint (the middle) figure when all the sold property prices over a particular period of time are ordered from their lowest to their highest value.

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red hill 5 Year Median House Prices

Here we have outlined the median value for all sales for each year over a period of 5 years. This is a more realistic timeframe when gauging how houses and units in red hill have performed, and it usually indicates how they will perform in the future.

Median values less than 3 months old are often not always accurate (due to incomplete data) and therefore cannot be relied upon for long-term red hill property price predictions.

red hill Market Property Types

  • 99 % Seperate House
  • 0 % Semi Detached
  • 0 % Flat or Unit
  • 1 % Other Dwelling

What this means

The property type in your suburb will help you identify the density of the area. The greater the number of flats, units and apartments, the more likely it is the suburb has a higher density of living and occupants are more reliant on public transport, cafes, restaurants, convenience stores and amenities, infrastructure and less reliant on their own vehicle for transport.

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red hill Market Property Types

Typically, inner city suburbs within 10km of the CBD are comprised of apartments and semi-detached homes, while middle ring suburbs have semi-detached and detached properties. Rural properties would most likely fall under the “other” category.

This ABS Property Type data combined with Population Density and Family Composition figures gives a good indication of the type of people living in an area and therefore what type of property (1-2 bed apartment or house) would be an ideal investment or property to live in.

red hill Income & Mortgage Stats

  • $ 1,562 Median Weekly Household Income
  • $ 2,167 Median Monthly Mortgage

What this means

This is one of the most compelling statistics in this section because it has a profound impact on real estate prices. It should always be considered when buying or selling property in red hill

Experts believe mortgage stress occurs in real estate when property owners are spending over 30% of their gross income on their mortgage repayments. These figures show weekly income and monthly mortgages.

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red hill Income & Mortgage Stats

To calculate the percentage of income paid towards a mortgage for the suburb of Melbourne, multiply the mortgage payment (e.g. $2450) by 12 then divide this figure by the weekly income (e.g. $1200) multiplied by 52 (weeks) to look like this ($2450 x12/$1200 x 52) x 100 = 47%

Any figure above 30% usually indicates that the suburb you intend to buy in may have property owners with a high incidence of mortgage stress. In terms of maintaining or growing property values in the future and trying to secure a strong property price when selling, this could have an impact, especially in an economic or local industry downturn.

red hill Sold Property Prices

red hill Real Estate Experts

In each suburb we have identified real estate agents who are active local experts. Our goal is to have a network of real estate agents that have been reviewed by previous clients for future buyers and sellers to rely on when making their next property move or even when they just wanting real estate advice.

red hill Related Local Blog Posts

Immigrants Are Pushing House Prices Higher

Much of Australia’s history and success has been built on the back immigration but are the current intake levels too high and how are they impacting prices?

Hangover Stock Brings About Buying Opportunities

This week Melbourne’s auction market has been tested with over 1200 properties reportedly going under the hammer over the weekend. Although both Domain and the REIV show clearance rates at nearly 70%, this on the surface seems good but in actual fact is 10% down for the same time last year. Speaking to a number of agents around town confirms….

Where is The Property Market Heading?

There has been a lot of “white noise” surrounding the Sydney and Melbourne property market over the last few months and it has taken me a while to determine which way things were actually going to go. Is the Australian property market heading down the gurgler or is this just a glitch?

Property Market Trends in Melbourne Which Could Affect Prices

In this final edition we look at what how the Melbourne property market has fared and what whether we are likely to see any changes in property prices, demand for property and economic drivers.

New Research Shows Consumers Who Don’t Own A Home Could Be Worse Off in Retirement

New Research released last week by Roy Morgan shows that people who don’t own a home have become worse off in terms of their net wealth and are jeopardising their retirement.

Is Australian Housing Heading for a Hard Landing or a Financial Cliff?

From my experience and talking with real estate agents the Melbourne market has softened no doubt, but are we heading towards a financial cliff?

red hill Restaurants

  • Vines of Red Hill150 Redhill Roadred hill VIC 393703 5989 2977
  • Lindenderry at Red Hill142 Arthurs Seat Roadred hill VIC 393703 5989 2933
  • Green Olive at Red Hill1180 Mornington-Flinders Rd red hill VIC 393703 5989 2992

red hill Cafes

  • Red Hill Caterers Cafe and Store1008 Mornington-Flinders Roadred hill VIC 393703 5931 0122
  • Cellar and Pantry141 Shoreham Rd red hill VIC 393703 5989 2411
  • Red Hill BakerCorner Point Leo Road & Shoreham Roadred hill VIC 393703 5989 2733

red hill Schools

  • Kindilan, Centre for Intellectually Disabled Adultsred hill VIC 3937Specialist School
  • Red Hill Consolidated Primary SchoolFlinders Roadred hill VIC 3937(03) 59892321State Primary School

red hill Kindergarten and Preschools

  • Red Hill Memorial PreschoolArthurs Seat Roadred hill VIC 3937

red hill Sporting Centres and Clubs

  • Red Hill Tennis Clubred hill VIC 3937Tennis Club & Courts

Find out How Much your House is Worth in red hill

Request a free market Basic Report for red hill to get a general idea of property prices in your area, or a more specific CMA Report for the property you own.

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