City of AlbanyEconomic profile
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City of Albany

Housing valuation

At June 2017, City of Albany had a median house valuation of $406,740, $72,503 lower than the median house valuation for Western Australia.

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 2013-2017, Housing Valuation System

Housing values
City of Albany20172013Change
Housing value (at June)City of AlbanyWestern AustraliaCity of Albany relative to Western AustraliaCity of AlbanyWestern AustraliaCity of Albany relative to Western Australia2013 to 2017
House--------------
First Quartile$331,542$369,359-10.2%$337,568$380,886-11.4%-$6,026
Median$406,740$479,243-15.1%$411,287$496,421-17.1%-$4,547
Third Quartile$534,943$645,726-17.2%$548,555$667,328-17.8%-$13,612
Unit--------------
First Quartile$236,929$286,991-17.4%$210,439$313,575-32.9%+$26,490
Median$271,549$367,211-26.1%$251,288$392,444-36.0%+$20,261
Third Quartile$330,078$460,909-28.4%$323,822$504,487-35.8%+$6,256

Source: Hometrack 2013-2017, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Western Australia: $460,909 Median, Western Australia: $367,211 First Quartile, Western Australia: $286,991 Third Quartile, Western Australia: $645,726 Median, Western Australia: $479,243 First Quartile, Western Australia: $369,359 Third Quartile, City of Albany: $330,078 Median, City of Albany: $271,549 First Quartile, City of Albany: $236,929 Third Quartile, City of Albany: $534,943 Median, City of Albany: $406,740 First Quartile, City of Albany: $331,542
Source: Hometrack 2013-2017, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Western Australia: $-43,578 Median, Western Australia: $-25,233 First Quartile, Western Australia: $-26,584 Third Quartile, Western Australia: $-21,602 Median, Western Australia: $-17,178 First Quartile, Western Australia: $-11,527 Third Quartile, City of Albany: $6,256 Median, City of Albany: $20,261 First Quartile, City of Albany: $26,490 Third Quartile, City of Albany: $-13,612 Median, City of Albany: $-4,547 First Quartile, City of Albany: $-6,026
Source: Hometrack 2013-2017, Housing Valuation System

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