Bankstown City CouncilEconomic profile

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At June 2016, Bankstown City had a median house valuation of $869,513, $79,638 lower than the median house valuation for Greater Sydney.

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
Bankstown City20162013Change
Housing value (at June)Bankstown CityGreater SydneyBankstown City relative to Greater SydneyBankstown CityGreater SydneyBankstown City relative to Greater Sydney2013 to 2016
House--------------
First Quartile$801,681$669,558+19.7%$517,865$434,107+19.3%+$283,816
Median$869,513$949,151-8.4%$573,658$623,561-8.0%+$295,855
Third Quartile$943,276$1,402,097-32.7%$618,783$885,643-30.1%+$324,493
Unit--------------
First Quartile$502,290$547,903-8.3%$363,611$379,822-4.3%+$138,679
Median$577,609$699,292-17.4%$421,052$492,743-14.5%+$156,557
Third Quartile$668,638$872,649-23.4%$468,392$615,102-23.9%+$200,246

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Sydney: $872,649 Median, Greater Sydney: $699,292 First Quartile, Greater Sydney: $547,903 Third Quartile, Greater Sydney: $1,402,097 Median, Greater Sydney: $949,151 First Quartile, Greater Sydney: $669,558 Third Quartile, Bankstown City: $668,638 Median, Bankstown City: $577,609 First Quartile, Bankstown City: $502,290 Third Quartile, Bankstown City: $943,276 Median, Bankstown City: $869,513 First Quartile, Bankstown City: $801,681
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Greater Sydney: $257,547 Median, Greater Sydney: $206,549 First Quartile, Greater Sydney: $168,081 Third Quartile, Greater Sydney: $516,454 Median, Greater Sydney: $325,590 First Quartile, Greater Sydney: $235,451 Third Quartile, Bankstown City: $200,246 Median, Bankstown City: $156,557 First Quartile, Bankstown City: $138,679 Third Quartile, Bankstown City: $324,493 Median, Bankstown City: $295,855 First Quartile, Bankstown City: $283,816
Source: Hometrack 2011-2016, Housing Valuation System

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