Bega Valley ShireEconomic profile
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Bega Valley Shire

Housing valuation

At June 2016, Bega Valley Shire had a median house valuation of $415,066, $222,467 lower 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
Bega Valley Shire20162013Change
Housing value (at June)Bega Valley ShireNew South WalesBega Valley Shire relative to New South WalesBega Valley ShireNew South WalesBega Valley Shire relative to New South Wales2013 to 2016
House--------------
First Quartile$325,886$418,171-22.1%$294,631$331,720-11.2%+$31,255
Median$415,066$637,533-34.9%$372,193$457,239-18.6%+$42,873
Third Quartile$508,842$1,038,768-51.0%$446,057$701,375-36.4%+$62,785
Unit--------------
First Quartile$196,923$422,764-53.4%$201,206$305,938-34.2%-$4,283
Median$231,132$614,575-62.4%$233,732$430,178-45.7%-$2,600
Third Quartile$307,615$811,857-62.1%$293,676$570,847-48.6%+$13,939

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, Bega Valley Shire: $307,615 Median, Bega Valley Shire: $231,132 First Quartile, Bega Valley Shire: $196,923 Third Quartile, Bega Valley Shire: $508,842 Median, Bega Valley Shire: $415,066 First Quartile, Bega Valley Shire: $325,886
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, Bega Valley Shire: $13,939 Median, Bega Valley Shire: $-2,600 First Quartile, Bega Valley Shire: $-4,283 Third Quartile, Bega Valley Shire: $62,785 Median, Bega Valley Shire: $42,873 First Quartile, Bega Valley Shire: $31,255
Source: Hometrack 2011-2016, Housing Valuation System

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