Willoughby City CouncilEconomic profile
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Willoughby City

Rental listings

At June 2016, Willoughby City had a median house rental of $965, $525 higher than the median house rental for New South Wales.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Automated Valuation System

Rental listings
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$800$350+128.6%$750$330+127.3%+$50
Median$965$440+119.3%$900$415+116.9%+$65
Third Quartile$1,300$600+116.7%$1,200$570+110.5%+$100
Median Rental Yield2.6%4.1%--3.8%5.1%----
Unit--------------
First Quartile$530$350+51.4%$490$320+53.1%+$40
Median$595$450+32.2%$550$420+31.0%+$45
Third Quartile$690$590+16.9%$650$550+18.2%+$40
Median Rental Yield3.8%4.2%--4.9%5.3%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, New South Wales: $590 Median, New South Wales: $450 First Quartile, New South Wales: $350 Third Quartile, New South Wales: $600 Median, New South Wales: $440 First Quartile, New South Wales: $350 Third Quartile, Willoughby City: $690 Median, Willoughby City: $595 First Quartile, Willoughby City: $530 Third Quartile, Willoughby City: $1,300 Median, Willoughby City: $965 First Quartile, Willoughby City: $800
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, New South Wales: $40 Median, New South Wales: $30 First Quartile, New South Wales: $30 Third Quartile, New South Wales: $30 Median, New South Wales: $25 First Quartile, New South Wales: $20 Third Quartile, Willoughby City: $40 Median, Willoughby City: $45 First Quartile, Willoughby City: $40 Third Quartile, Willoughby City: $100 Median, Willoughby City: $65 First Quartile, Willoughby City: $50
Source: Hometrack 2011-2016, Automated Valuation System

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