Wyong Shire CouncilEconomic profile

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At June 2016, Wyong Shire had a median house valuation of $492,623, $144,910 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
Wyong Shire20162013Change
Housing value (at June)Wyong ShireNew South WalesWyong Shire relative to New South WalesWyong ShireNew South WalesWyong Shire relative to New South Wales2013 to 2016
House--------------
First Quartile$412,179$418,171-1.4%$290,725$331,720-12.4%+$121,454
Median$492,623$637,533-22.7%$340,438$457,239-25.5%+$152,185
Third Quartile$600,744$1,038,768-42.2%$410,642$701,375-41.5%+$190,102
Unit--------------
First Quartile$317,878$422,764-24.8%$215,862$305,938-29.4%+$102,016
Median$365,472$614,575-40.5%$252,476$430,178-41.3%+$112,996
Third Quartile$429,983$811,857-47.0%$311,495$570,847-45.4%+$118,488

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, Wyong Shire: $429,983 Median, Wyong Shire: $365,472 First Quartile, Wyong Shire: $317,878 Third Quartile, Wyong Shire: $600,744 Median, Wyong Shire: $492,623 First Quartile, Wyong Shire: $412,179
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, Wyong Shire: $118,488 Median, Wyong Shire: $112,996 First Quartile, Wyong Shire: $102,016 Third Quartile, Wyong Shire: $190,102 Median, Wyong Shire: $152,185 First Quartile, Wyong Shire: $121,454
Source: Hometrack 2011-2016, Housing Valuation System

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