City of WyndhamEconomic profile
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City of Wyndham

Housing valuation

At June 2016, the City of Wyndham had a median house valuation of $424,553, $98,304 lower than the median house valuation for Victoria.

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 Wyndham20162013Change
Housing value (at June)City of WyndhamVictoriaCity of Wyndham relative to VictoriaCity of WyndhamVictoriaCity of Wyndham relative to Victoria2013 to 2016
House--------------
First Quartile$359,655$364,026-1.2%$303,521$322,519-5.9%+$56,134
Median$424,553$522,857-18.8%$349,979$424,044-17.5%+$74,574
Third Quartile$514,803$823,718-37.5%$422,848$614,822-31.2%+$91,955
Unit--------------
First Quartile$277,773$339,246-18.1%$243,222$294,921-17.5%+$34,551
Median$308,637$463,503-33.4%$272,395$386,032-29.4%+$36,242
Third Quartile$340,116$591,295-42.5%$295,494$493,165-40.1%+$44,622

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Victoria: $591,295 Median, Victoria: $463,503 First Quartile, Victoria: $339,246 Third Quartile, Victoria: $823,718 Median, Victoria: $522,857 First Quartile, Victoria: $364,026 Third Quartile, City of Wyndham: $340,116 Median, City of Wyndham: $308,637 First Quartile, City of Wyndham: $277,773 Third Quartile, City of Wyndham: $514,803 Median, City of Wyndham: $424,553 First Quartile, City of Wyndham: $359,655
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Victoria: $98,130 Median, Victoria: $77,471 First Quartile, Victoria: $44,325 Third Quartile, Victoria: $208,896 Median, Victoria: $98,813 First Quartile, Victoria: $41,507 Third Quartile, City of Wyndham: $44,622 Median, City of Wyndham: $36,242 First Quartile, City of Wyndham: $34,551 Third Quartile, City of Wyndham: $91,955 Median, City of Wyndham: $74,574 First Quartile, City of Wyndham: $56,134
Source: Hometrack 2011-2016, Housing Valuation System

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