riddells creek

3431, Victoria

Real Estate & Property Information

Median
Price Rank
289

riddells creek Suburb Profile & Review

Riddells Creek is a small town near Gisborne in the Shire of Macedon Ranges. The area is surrounded by stunning natural bushland and mountainous ranges.

Trains travel to Melbourne from Riddells Creek Station on the Bendigo railway line. In the heart of town, there is a Foodworks supermarket, a pharmacy, a convenience store and a hardware store. Seasons Bistro, Bar and Deli serves fresh local produce and local wines in a plush and sophisticated restaurant. Sunbury's many takeaway shops and retail stores are less than twenty minutes away by car.

Families send their children to Riddells Creek Primary School , which has been a presence in the area for over 150 years. The Rowallan Recreation and Adventure Camp on the outskirts of town is an expansive bushland property that offers indoor and outdoor camping accommodation for school groups, as well as function space for birthdays and weddings. Another notable location is the Dromkeen Museum, a homestead that showcases a collection of Australian children's books. It contains working space for visiting artists and writers who are drawn to the area's stunning landscapes.

riddells creek Demographic Data

$ 450,000 Median House Price

46 Minutes Average Commute

39 Median Age

3,753 Population

51.24 % Female

48.76 % Male

1054 NO OF FAMILIES

2.0 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 riddells creek, Victoria.

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riddells creek 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.

riddells creek Median House Prices

  • 2008 $ 285,000
  • 2009 $ 355,000
  • 2010 $ 315,000
  • 2011 $ 402,500
  • 2012 $ 450,000

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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riddells creek 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 riddells creek 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 riddells creek property price predictions.

riddells creek Market Property Types

  • 97 % Seperate House
  • 0 % Semi Detached
  • 3 % Flat or Unit
  • 0 % 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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riddells creek 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.

riddells creek Income & Mortgage Stats

  • $ 1,637 Median Weekly Household Income
  • $ 1,733 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 riddells creek

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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riddells creek 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.

riddells creek Sold Property Prices

riddells creek 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.

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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.

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Local Place Coming Soon

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