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, $401,763 higher than the median house valuation for Greater Melbourne.

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 MonashGreater MelbourneCity of Monash relative to Greater MelbourneCity of MonashGreater MelbourneCity of Monash relative to Greater Melbourne2013 to 2016
House--------------
First Quartile$889,889$466,163+90.9%$594,570$381,114+56.0%+$295,319
Median$1,051,903$650,140+61.8%$675,410$498,619+35.5%+$376,493
Third Quartile$1,240,454$977,536+26.9%$767,007$694,174+10.5%+$473,447
Unit--------------
First Quartile$541,775$384,096+41.1%$429,582$327,062+31.3%+$112,193
Median$631,571$490,558+28.7%$488,057$410,461+18.9%+$143,514
Third Quartile$757,622$612,545+23.7%$560,383$511,663+9.5%+$197,239

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Melbourne: $612,545 Median, Greater Melbourne: $490,558 First Quartile, Greater Melbourne: $384,096 Third Quartile, Greater Melbourne: $977,536 Median, Greater Melbourne: $650,140 First Quartile, Greater Melbourne: $466,163 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, Greater Melbourne: $100,882 Median, Greater Melbourne: $80,097 First Quartile, Greater Melbourne: $57,034 Third Quartile, Greater Melbourne: $283,362 Median, Greater Melbourne: $151,521 First Quartile, Greater Melbourne: $85,049 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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