City of AlbanyEconomic profile
Skip to content

City of Albany

Housing valuation

At June 2018, City of Albany had a median house valuation of $411,949, $79,761 higher than the median house valuation for Regional WA.

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 2014-2018, Housing Valuation System

Housing values
City of Albany20182014Change
Housing value (at June)City of AlbanyRegional WACity of Albany relative to Regional WACity of AlbanyRegional WACity of Albany relative to Regional WA2014 to 2018
House--------------
First Quartile$334,986$233,257+43.6%$347,888$285,085+22.0%-$12,902
Median$411,949$332,188+24.0%$419,180$392,885+6.7%-$7,231
Third Quartile$534,503$446,137+19.8%$560,499$552,124+1.5%-$25,996
Unit--------------
First Quartile$235,431$170,775+37.9%$215,024$264,657-18.8%+$20,407
Median$265,728$249,240+6.6%$266,164$332,403-19.9%-$436
Third Quartile$330,075$332,013-0.6%$316,342$478,395-33.9%+$13,733

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Regional WA: $332,013 Median, Regional WA: $249,240 First Quartile, Regional WA: $170,775 Third Quartile, Regional WA: $446,137 Median, Regional WA: $332,188 First Quartile, Regional WA: $233,257 Third Quartile, City of Albany: $330,075 Median, City of Albany: $265,728 First Quartile, City of Albany: $235,431 Third Quartile, City of Albany: $534,503 Median, City of Albany: $411,949 First Quartile, City of Albany: $334,986
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Regional WA: $-146,382 Median, Regional WA: $-83,163 First Quartile, Regional WA: $-93,882 Third Quartile, Regional WA: $-105,987 Median, Regional WA: $-60,697 First Quartile, Regional WA: $-51,828 Third Quartile, City of Albany: $13,733 Median, City of Albany: $-436 First Quartile, City of Albany: $20,407 Third Quartile, City of Albany: $-25,996 Median, City of Albany: $-7,231 First Quartile, City of Albany: $-12,902
Source: Hometrack 2014-2018, Housing Valuation System

To continue building your economic story go to...

v19.10.22-1.0.0