City of JoondalupEconomic profile
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City of Joondalup

Housing valuation

At June 2016, the City of Joondalup had a median house valuation of $616,160, $115,935 higher 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 Joondalup20162013Change
Housing value (at June)City of JoondalupWestern AustraliaCity of Joondalup relative to Western AustraliaCity of JoondalupWestern AustraliaCity of Joondalup relative to Western Australia2013 to 2016
House--------------
First Quartile$517,659$392,026+32.0%$500,713$380,886+31.5%+$16,946
Median$616,160$500,225+23.2%$592,960$496,421+19.4%+$23,200
Third Quartile$774,300$666,749+16.1%$750,884$667,328+12.5%+$23,416
Unit--------------
First Quartile$356,186$311,574+14.3%$361,255$313,575+15.2%-$5,069
Median$385,195$392,052-1.7%$396,675$392,444+1.1%-$11,480
Third Quartile$437,836$489,269-10.5%$433,729$504,487-14.0%+$4,107

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 Joondalup: $437,836 Median, City of Joondalup: $385,195 First Quartile, City of Joondalup: $356,186 Third Quartile, City of Joondalup: $774,300 Median, City of Joondalup: $616,160 First Quartile, City of Joondalup: $517,659
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 Joondalup: $4,107 Median, City of Joondalup: $-11,480 First Quartile, City of Joondalup: $-5,069 Third Quartile, City of Joondalup: $23,416 Median, City of Joondalup: $23,200 First Quartile, City of Joondalup: $16,946
Source: Hometrack 2011-2016, Housing Valuation System

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