City of MonashEconomic profile
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City of Monash

Housing valuation

At June 2016, the City of Monash had a median house valuation of $1,051,903, $529,046 higher than the median house valuation for Victoria.

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 Monash20162013Change
Housing value (at June)City of MonashVictoriaCity of Monash relative to VictoriaCity of MonashVictoriaCity of Monash relative to Victoria2013 to 2016
House--------------
First Quartile$889,889$364,026+144.5%$594,570$322,519+84.4%+$295,319
Median$1,051,903$522,857+101.2%$675,410$424,044+59.3%+$376,493
Third Quartile$1,240,454$823,718+50.6%$767,007$614,822+24.8%+$473,447
Unit--------------
First Quartile$541,775$339,246+59.7%$429,582$294,921+45.7%+$112,193
Median$631,571$463,503+36.3%$488,057$386,032+26.4%+$143,514
Third Quartile$757,622$591,295+28.1%$560,383$493,165+13.6%+$197,239

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Victoria: $591,295 Median, Victoria: $463,503 First Quartile, Victoria: $339,246 Third Quartile, Victoria: $823,718 Median, Victoria: $522,857 First Quartile, Victoria: $364,026 Third Quartile, City of Monash: $757,622 Median, City of Monash: $631,571 First Quartile, City of Monash: $541,775 Third Quartile, City of Monash: $1,240,454 Median, City of Monash: $1,051,903 First Quartile, City of Monash: $889,889
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Victoria: $98,130 Median, Victoria: $77,471 First Quartile, Victoria: $44,325 Third Quartile, Victoria: $208,896 Median, Victoria: $98,813 First Quartile, Victoria: $41,507 Third Quartile, City of Monash: $197,239 Median, City of Monash: $143,514 First Quartile, City of Monash: $112,193 Third Quartile, City of Monash: $473,447 Median, City of Monash: $376,493 First Quartile, City of Monash: $295,319
Source: Hometrack 2011-2016, Housing Valuation System

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