City of RockinghamEconomic profile

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City of Rockingham

Housing valuation

At June 2016, the City of Rockingham had a median house valuation of $423,672, $76,553 lower than the median house valuation for Western Australia.

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 Rockingham20162013Change
Housing value (at June)City of RockinghamWestern AustraliaCity of Rockingham relative to Western AustraliaCity of RockinghamWestern AustraliaCity of Rockingham relative to Western Australia2013 to 2016
House--------------
First Quartile$364,343$392,026-7.1%$352,389$380,886-7.5%+$11,954
Median$423,672$500,225-15.3%$409,528$496,421-17.5%+$14,144
Third Quartile$486,302$666,749-27.1%$468,950$667,328-29.7%+$17,352
Unit--------------
First Quartile$261,998$311,574-15.9%$259,688$313,575-17.2%+$2,310
Median$311,076$392,052-20.7%$275,314$392,444-29.8%+$35,762
Third Quartile$367,628$489,269-24.9%$339,911$504,487-32.6%+$27,717

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Western Australia: $489,269 Median, Western Australia: $392,052 First Quartile, Western Australia: $311,574 Third Quartile, Western Australia: $666,749 Median, Western Australia: $500,225 First Quartile, Western Australia: $392,026 Third Quartile, City of Rockingham: $367,628 Median, City of Rockingham: $311,076 First Quartile, City of Rockingham: $261,998 Third Quartile, City of Rockingham: $486,302 Median, City of Rockingham: $423,672 First Quartile, City of Rockingham: $364,343
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Western Australia: $-15,218 Median, Western Australia: $-392 First Quartile, Western Australia: $-2,001 Third Quartile, Western Australia: $-579 Median, Western Australia: $3,804 First Quartile, Western Australia: $11,140 Third Quartile, City of Rockingham: $27,717 Median, City of Rockingham: $35,762 First Quartile, City of Rockingham: $2,310 Third Quartile, City of Rockingham: $17,352 Median, City of Rockingham: $14,144 First Quartile, City of Rockingham: $11,954
Source: Hometrack 2011-2016, Housing Valuation System

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