Willoughby City CouncilEconomic profile
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Willoughby City

Housing valuation

At June 2016, Willoughby City had a median house valuation of $2,092,958, $1,455,425 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
Willoughby City20162013Change
Housing value (at June)Willoughby CityNew South WalesWilloughby City relative to New South WalesWilloughby CityNew South WalesWilloughby City relative to New South Wales2013 to 2016
House--------------
First Quartile$1,802,150$418,171+331.0%$1,122,394$331,720+238.4%+$679,756
Median$2,092,958$637,533+228.3%$1,283,156$457,239+180.6%+$809,802
Third Quartile$2,468,995$1,038,768+137.7%$1,502,394$701,375+114.2%+$966,601
Unit--------------
First Quartile$763,700$422,764+80.6%$555,031$305,938+81.4%+$208,669
Median$852,846$614,575+38.8%$611,617$430,178+42.2%+$241,229
Third Quartile$947,856$811,857+16.8%$690,979$570,847+21.0%+$256,877

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, Willoughby City: $947,856 Median, Willoughby City: $852,846 First Quartile, Willoughby City: $763,700 Third Quartile, Willoughby City: $2,468,995 Median, Willoughby City: $2,092,958 First Quartile, Willoughby City: $1,802,150
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, Willoughby City: $256,877 Median, Willoughby City: $241,229 First Quartile, Willoughby City: $208,669 Third Quartile, Willoughby City: $966,601 Median, Willoughby City: $809,802 First Quartile, Willoughby City: $679,756
Source: Hometrack 2011-2016, Housing Valuation System

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