Shire of NillumbikEconomic profile
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Nillumbik Shire

Rental listings

At June 2016, Nillumbik Shire had a median house rental of $450, $80 higher than the median house rental for Victoria.

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
Nillumbik Shire20162013Change
Housing value (at June)Nillumbik ShireVictoriaNillumbik Shire relative to VictoriaNillumbik ShireVictoriaNillumbik Shire relative to Victoria2013 to 2016
House--------------
First Quartile$390$310+25.8%$370$290+27.6%+$20
Median$450$370+21.6%$410$340+20.6%+$40
Third Quartile$545$450+21.1%$500$420+19.0%+$45
Median Rental Yield3.6%4.1%--4.2%4.6%----
Unit--------------
First Quartile$340$290+17.2%$319$270+18.1%+$21
Median$390$350+11.4%$350$330+6.1%+$40
Third Quartile$430$430+0.0%$411$400+2.8%+$19
Median Rental Yield3.9%4.4%--4.4%4.7%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, Victoria: $430 Median, Victoria: $350 First Quartile, Victoria: $290 Third Quartile, Victoria: $450 Median, Victoria: $370 First Quartile, Victoria: $310 Third Quartile, Nillumbik Shire: $430 Median, Nillumbik Shire: $390 First Quartile, Nillumbik Shire: $340 Third Quartile, Nillumbik Shire: $545 Median, Nillumbik Shire: $450 First Quartile, Nillumbik Shire: $390
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, Victoria: $30 Median, Victoria: $20 First Quartile, Victoria: $20 Third Quartile, Victoria: $30 Median, Victoria: $30 First Quartile, Victoria: $20 Third Quartile, Nillumbik Shire: $19 Median, Nillumbik Shire: $40 First Quartile, Nillumbik Shire: $21 Third Quartile, Nillumbik Shire: $45 Median, Nillumbik Shire: $40 First Quartile, Nillumbik Shire: $20
Source: Hometrack 2011-2016, Automated Valuation System

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