Queanbeyan-Palerang Regional CouncilEconomic profile
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Queanbeyan-Palerang Regional Council area

Housing valuation

At June 2016, the Queanbeyan-Palerang Regional Council area had a median house valuation of $563,842, $73,691 lower than the median house valuation for NSW.

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
Queanbeyan-Palerang Regional Council area20162013Change
Housing value (at June)Queanbeyan-Palerang Regional Council areaNSWQueanbeyan-Palerang Regional Council area relative to NSWQueanbeyan-Palerang Regional Council areaNSWQueanbeyan-Palerang Regional Council area relative to NSW2013 to 2016
House--------------
First Quartile$450,564$418,171+7.7%$433,493$331,720+30.7%+$17,071
Median$563,842$637,533-11.6%$526,892$457,239+15.2%+$36,950
Third Quartile$738,941$1,038,768-28.9%$683,279$701,375-2.6%+$55,662
Unit--------------
First Quartile$229,335$422,764-45.8%$231,492$305,938-24.3%-$2,157
Median$299,049$614,575-51.3%$293,683$430,178-31.7%+$5,366
Third Quartile$359,051$811,857-55.8%$365,551$570,847-36.0%-$6,500

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, NSW: $811,857 Median, NSW: $614,575 First Quartile, NSW: $422,764 Third Quartile, NSW: $1,038,768 Median, NSW: $637,533 First Quartile, NSW: $418,171 Third Quartile, Queanbeyan-Palerang Regional Council area: $359,051 Median, Queanbeyan-Palerang Regional Council area: $299,049 First Quartile, Queanbeyan-Palerang Regional Council area: $229,335 Third Quartile, Queanbeyan-Palerang Regional Council area: $738,941 Median, Queanbeyan-Palerang Regional Council area: $563,842 First Quartile, Queanbeyan-Palerang Regional Council area: $450,564
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, NSW: $241,010 Median, NSW: $184,397 First Quartile, NSW: $116,826 Third Quartile, NSW: $337,393 Median, NSW: $180,294 First Quartile, NSW: $86,451 Third Quartile, Queanbeyan-Palerang Regional Council area: $-6,500 Median, Queanbeyan-Palerang Regional Council area: $5,366 First Quartile, Queanbeyan-Palerang Regional Council area: $-2,157 Third Quartile, Queanbeyan-Palerang Regional Council area: $55,662 Median, Queanbeyan-Palerang Regional Council area: $36,950 First Quartile, Queanbeyan-Palerang Regional Council area: $17,071
Source: Hometrack 2011-2016, Housing Valuation System

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