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City of Albany

Housing valuation

At June 2016, the City of Albany had a median house valuation of $423,524, $76,701 lower than the median house valuation for Western Australia.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High housing prices usually indicate access to high-paid jobs and a very desirable area. However they can present issues in attracting and retaining key lower skilled workers. Lower housing prices indicate less demand and may be an asset for attracting people to live in the area. However they can also indicate lower paid and lower skilled jobs or a declining economy.

Housing prices often factor in a home ownership premium due to expected capital growth and the ability to customise the property, but rental costs are a more direct measure of the immediate economic value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Housing Valuation System

Housing values
City of Albany20162013Change
Housing value (at June)City of AlbanyWestern AustraliaCity of Albany relative to Western AustraliaCity of AlbanyWestern AustraliaCity of Albany relative to Western Australia2013 to 2016
House--------------
First Quartile$343,761$392,026-12.3%$337,568$380,886-11.4%+$6,193
Median$423,524$500,225-15.3%$411,287$496,421-17.1%+$12,237
Third Quartile$555,893$666,749-16.6%$548,555$667,328-17.8%+$7,338
Unit--------------
First Quartile$242,389$311,574-22.2%$210,439$313,575-32.9%+$31,950
Median$275,503$392,052-29.7%$251,288$392,444-36.0%+$24,215
Third Quartile$335,172$489,269-31.5%$323,822$504,487-35.8%+$11,350

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Western Australia: $489,269 Median, Western Australia: $392,052 First Quartile, Western Australia: $311,574 Third Quartile, Western Australia: $666,749 Median, Western Australia: $500,225 First Quartile, Western Australia: $392,026 Third Quartile, City of Albany: $335,172 Median, City of Albany: $275,503 First Quartile, City of Albany: $242,389 Third Quartile, City of Albany: $555,893 Median, City of Albany: $423,524 First Quartile, City of Albany: $343,761
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Western Australia: $-15,218 Median, Western Australia: $-392 First Quartile, Western Australia: $-2,001 Third Quartile, Western Australia: $-579 Median, Western Australia: $3,804 First Quartile, Western Australia: $11,140 Third Quartile, City of Albany: $11,350 Median, City of Albany: $24,215 First Quartile, City of Albany: $31,950 Third Quartile, City of Albany: $7,338 Median, City of Albany: $12,237 First Quartile, City of Albany: $6,193
Source: Hometrack 2011-2016, Housing Valuation System

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