Armidale Regional CouncilEconomic profile
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Armidale Regional Council

Housing valuation

At June 2016, the Armidale Regional Council had a median house valuation of $640,053, $2,520 higher than the median house valuation for New South Wales.

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
Armidale Regional Council20162013Change
Housing value (at June)Armidale Regional CouncilNew South WalesArmidale Regional Council relative to New South WalesArmidale Regional CouncilNew South WalesArmidale Regional Council relative to New South Wales2013 to 2016
House--------------
First Quartile$493,837$418,171+18.1%$472,609$331,720+42.5%+$21,228
Median$640,053$637,533+0.4%$584,842$457,239+27.9%+$55,211
Third Quartile$945,305$1,038,768-9.0%$781,566$701,375+11.4%+$163,739
Unit--------------
First Quartile$460,435$422,764+8.9%$419,224$305,938+37.0%+$41,211
Median$652,212$614,575+6.1%$462,705$430,178+7.6%+$189,507
Third Quartile$725,428$811,857-10.6%$502,073$570,847-12.0%+$223,355

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, New South Wales: $811,857 Median, New South Wales: $614,575 First Quartile, New South Wales: $422,764 Third Quartile, New South Wales: $1,038,768 Median, New South Wales: $637,533 First Quartile, New South Wales: $418,171 Third Quartile, Armidale Regional Council: $725,428 Median, Armidale Regional Council: $652,212 First Quartile, Armidale Regional Council: $460,435 Third Quartile, Armidale Regional Council: $945,305 Median, Armidale Regional Council: $640,053 First Quartile, Armidale Regional Council: $493,837
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, New South Wales: $241,010 Median, New South Wales: $184,397 First Quartile, New South Wales: $116,826 Third Quartile, New South Wales: $337,393 Median, New South Wales: $180,294 First Quartile, New South Wales: $86,451 Third Quartile, Armidale Regional Council: $223,355 Median, Armidale Regional Council: $189,507 First Quartile, Armidale Regional Council: $41,211 Third Quartile, Armidale Regional Council: $163,739 Median, Armidale Regional Council: $55,211 First Quartile, Armidale Regional Council: $21,228
Source: Hometrack 2011-2016, Housing Valuation System

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