Wagga Wagga City CouncilEconomic profile

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Wagga Wagga City

Housing valuation

At June 2016, Wagga Wagga City had a median house valuation of $336,407, $301,126 lower 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
Wagga Wagga City20162013Change
Housing value (at June)Wagga Wagga CityNew South WalesWagga Wagga City relative to New South WalesWagga Wagga CityNew South WalesWagga Wagga City relative to New South Wales2013 to 2016
House--------------
First Quartile$261,834$418,171-37.4%$244,410$331,720-26.3%+$17,424
Median$336,407$637,533-47.2%$301,182$457,239-34.1%+$35,225
Third Quartile$448,688$1,038,768-56.8%$392,716$701,375-44.0%+$55,972
Unit--------------
First Quartile$201,952$422,764-52.2%$177,463$305,938-42.0%+$24,489
Median$253,491$614,575-58.8%$232,934$430,178-45.9%+$20,557
Third Quartile$291,736$811,857-64.1%$264,677$570,847-53.6%+$27,059

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, Wagga Wagga City: $291,736 Median, Wagga Wagga City: $253,491 First Quartile, Wagga Wagga City: $201,952 Third Quartile, Wagga Wagga City: $448,688 Median, Wagga Wagga City: $336,407 First Quartile, Wagga Wagga City: $261,834
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, Wagga Wagga City: $27,059 Median, Wagga Wagga City: $20,557 First Quartile, Wagga Wagga City: $24,489 Third Quartile, Wagga Wagga City: $55,972 Median, Wagga Wagga City: $35,225 First Quartile, Wagga Wagga City: $17,424
Source: Hometrack 2011-2016, Housing Valuation System

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