Redan vs Ullswater
Property investment comparison - Redan, VIC 3350 vs Ullswater, VIC 3318
Head-to-head across core investment metrics: Redan wins 2, Ullswater wins 1. The better choice depends on whether you're optimising for cash flow, growth, affordability, or liquidity, the table below highlights the winner on each metric.
| Metric | Redan | Ullswater |
|---|---|---|
| Median house price | $510K | $515K |
| Median unit price | $380K | - |
| Gross rental yield (houses) | 4.10% | 3.50% |
| Gross rental yield (units) | - | - |
| 1-year house growth | +16.4% | - |
| 3-year house growth | +5.2% | - |
| Vacancy rate | 0.9% | 0.5% |
| Population | 3,000 | 47 |
Redan vs Ullswater: what the numbers say
The median house price is $510K in Redan and $515K in Ullswater, so Redan is the cheaper entry point, with Ullswater houses about 1% dearer.
On cash flow, Redan leads: houses there return a gross rental yield of 4.10%, compared with 3.50% in Ullswater, a gap of 0.60 percentage points.
Rental vacancy is 0.5% in Ullswater and 0.9% in Redan, so landlords in Ullswater face less competition for tenants. Anything under 2% is generally read as a tight market where tenants compete for homes.
Redan is the bigger suburb, with a population of 3,000 against 47, roughly 64 times the size of Ullswater; a larger suburb usually means a deeper pool of buyers and tenants.
In short: Redan for rental income, Redan for a lower purchase price, Ullswater for the tighter rental market. Which matters more depends on whether the investor is buying for cash flow, capital growth or affordability.
Keep exploring
- National investment guide - top suburbs across every metric
- Take the suburb finder quiz - 5 questions to match your goals
- How our investment score works
- Property investment glossary - every term defined
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