Shore Regional Organisation of CouncilsEconomic profile
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SHOROC Region

Housing valuation

At June 2016, the SHOROC Region had a median house valuation of $1,558,116, $920,583 higher than the median house valuation for New South Wales.

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
SHOROC Region20162013Change
Housing value (at June)SHOROC RegionNew South WalesSHOROC Region relative to New South WalesSHOROC RegionNew South WalesSHOROC Region relative to New South Wales2013 to 2016
House--------------
First Quartile$1,353,170$418,171+223.6%$862,098$331,720+159.9%+$491,072
Median$1,558,116$637,533+144.4%$1,000,534$457,239+118.8%+$557,582
Third Quartile$2,045,842$1,038,768+96.9%$1,336,280$701,375+90.5%+$709,562
Unit--------------
First Quartile$702,956$422,764+66.3%$474,972$305,938+55.3%+$227,984
Median$843,058$614,575+37.2%$568,683$430,178+32.2%+$274,375
Third Quartile$1,052,712$811,857+29.7%$706,702$570,847+23.8%+$346,010

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, New South Wales: $811,857 Median, New South Wales: $614,575 First Quartile, New South Wales: $422,764 Third Quartile, New South Wales: $1,038,768 Median, New South Wales: $637,533 First Quartile, New South Wales: $418,171 Third Quartile, SHOROC Region: $1,052,712 Median, SHOROC Region: $843,058 First Quartile, SHOROC Region: $702,956 Third Quartile, SHOROC Region: $2,045,842 Median, SHOROC Region: $1,558,116 First Quartile, SHOROC Region: $1,353,170
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, New South Wales: $241,010 Median, New South Wales: $184,397 First Quartile, New South Wales: $116,826 Third Quartile, New South Wales: $337,393 Median, New South Wales: $180,294 First Quartile, New South Wales: $86,451 Third Quartile, SHOROC Region: $346,010 Median, SHOROC Region: $274,375 First Quartile, SHOROC Region: $227,984 Third Quartile, SHOROC Region: $709,562 Median, SHOROC Region: $557,582 First Quartile, SHOROC Region: $491,072
Source: Hometrack 2011-2016, Housing Valuation System

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