Randwick City CouncilEconomic profile
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Randwick City

Rental listings

At June 2016, Randwick City had a median house rental of $950, $510 higher than the median house rental for New South Wales.

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
Randwick City20162013Change
Housing value (at June)Randwick CityNew South WalesRandwick City relative to New South WalesRandwick CityNew South WalesRandwick City relative to New South Wales2013 to 2016
House--------------
First Quartile$770$350+120.0%$653$330+97.9%+$117
Median$950$440+115.9%$850$415+104.8%+$100
Third Quartile$1,350$600+125.0%$1,100$570+93.0%+$250
Median Rental Yield2.9%4.0%--3.7%5.1%----
Unit--------------
First Quartile$520$350+48.6%$480$320+50.0%+$40
Median$600$450+33.3%$550$420+31.0%+$50
Third Quartile$695$590+17.8%$630$550+14.5%+$65
Median Rental Yield3.8%4.2%--4.8%5.3%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, New South Wales: $590 Median, New South Wales: $450 First Quartile, New South Wales: $350 Third Quartile, New South Wales: $600 Median, New South Wales: $440 First Quartile, New South Wales: $350 Third Quartile, Randwick City: $695 Median, Randwick City: $600 First Quartile, Randwick City: $520 Third Quartile, Randwick City: $1,350 Median, Randwick City: $950 First Quartile, Randwick City: $770
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, New South Wales: $40 Median, New South Wales: $30 First Quartile, New South Wales: $30 Third Quartile, New South Wales: $30 Median, New South Wales: $25 First Quartile, New South Wales: $20 Third Quartile, Randwick City: $65 Median, Randwick City: $50 First Quartile, Randwick City: $40 Third Quartile, Randwick City: $250 Median, Randwick City: $100 First Quartile, Randwick City: $117
Source: Hometrack 2011-2016, Automated Valuation System

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