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Redland City

Housing valuation

At June 2016, Redland City had a median house valuation of $475,926, $32,067 higher than the median house valuation for Queensland.

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
Redland City20162013Change
Housing value (at June)Redland CityQueenslandRedland City relative to QueenslandRedland CityQueenslandRedland City relative to Queensland2013 to 2016
House--------------
First Quartile$337,822$317,770+6.3%$319,216$303,498+5.2%+$18,606
Median$475,926$443,859+7.2%$411,919$398,530+3.4%+$64,007
Third Quartile$589,355$606,105-2.8%$508,914$512,407-0.7%+$80,441
Unit--------------
First Quartile$315,030$271,125+16.2%$280,960$253,719+10.7%+$34,070
Median$361,142$348,763+3.5%$312,192$315,561-1.1%+$48,950
Third Quartile$416,169$441,982-5.8%$368,243$390,486-5.7%+$47,926

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Queensland: $441,982 Median, Queensland: $348,763 First Quartile, Queensland: $271,125 Third Quartile, Queensland: $606,105 Median, Queensland: $443,859 First Quartile, Queensland: $317,770 Third Quartile, Redland City: $416,169 Median, Redland City: $361,142 First Quartile, Redland City: $315,030 Third Quartile, Redland City: $589,355 Median, Redland City: $475,926 First Quartile, Redland City: $337,822
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Queensland: $51,496 Median, Queensland: $33,202 First Quartile, Queensland: $17,406 Third Quartile, Queensland: $93,698 Median, Queensland: $45,329 First Quartile, Queensland: $14,272 Third Quartile, Redland City: $47,926 Median, Redland City: $48,950 First Quartile, Redland City: $34,070 Third Quartile, Redland City: $80,441 Median, Redland City: $64,007 First Quartile, Redland City: $18,606
Source: Hometrack 2011-2016, Housing Valuation System

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