City of CaseyEconomic profile
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City of Casey

Rental listings

At June 2016, the City of Casey had a median house rental of $370, $30 lower than the median house rental for Greater Melbourne.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Automated Valuation System

Rental listings
City of Casey20162013Change
Housing value (at June)City of CaseyGreater MelbourneCity of Casey relative to Greater MelbourneCity of CaseyGreater MelbourneCity of Casey relative to Greater Melbourne2013 to 2016
House--------------
First Quartile$335$350-4.3%$310$315-1.6%+$25
Median$370$400-7.5%$340$360-5.6%+$30
Third Quartile$400$495-19.2%$380$450-15.6%+$20
Median Rental Yield4.3%3.6%--5.0%4.4%----
Unit--------------
First Quartile$295$310-4.8%$280$290-3.4%+$15
Median$320$365-12.3%$300$340-11.8%+$20
Third Quartile$350$440-20.5%$325$410-20.7%+$25
Median Rental Yield5.0%4.3%--5.2%4.6%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, Greater Melbourne: $440 Median, Greater Melbourne: $365 First Quartile, Greater Melbourne: $310 Third Quartile, Greater Melbourne: $495 Median, Greater Melbourne: $400 First Quartile, Greater Melbourne: $350 Third Quartile, City of Casey: $350 Median, City of Casey: $320 First Quartile, City of Casey: $295 Third Quartile, City of Casey: $400 Median, City of Casey: $370 First Quartile, City of Casey: $335
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, Greater Melbourne: $30 Median, Greater Melbourne: $25 First Quartile, Greater Melbourne: $20 Third Quartile, Greater Melbourne: $45 Median, Greater Melbourne: $40 First Quartile, Greater Melbourne: $35 Third Quartile, City of Casey: $25 Median, City of Casey: $20 First Quartile, City of Casey: $15 Third Quartile, City of Casey: $20 Median, City of Casey: $30 First Quartile, City of Casey: $25
Source: Hometrack 2011-2016, Automated Valuation System

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