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, $61,421 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 2013-2017, Housing Valuation System

Housing values
City of Albany20172013Change
Housing value (at June)City of AlbanyRegional WACity of Albany relative to Regional WACity of AlbanyRegional WACity of Albany relative to Regional WA2013 to 2017
House--------------
First Quartile$331,542$247,967+33.7%$337,568$272,941+23.7%-$6,026
Median$406,740$345,319+17.8%$411,287$373,254+10.2%-$4,547
Third Quartile$534,943$457,919+16.8%$548,555$524,908+4.5%-$13,612
Unit--------------
First Quartile$236,929$184,165+28.7%$210,439$253,340-16.9%+$26,490
Median$271,549$262,440+3.5%$251,288$320,698-21.6%+$20,261
Third Quartile$330,078$348,683-5.3%$323,822$449,620-28.0%+$6,256

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Regional WA: $348,683 Median, Regional WA: $262,440 First Quartile, Regional WA: $184,165 Third Quartile, Regional WA: $457,919 Median, Regional WA: $345,319 First Quartile, Regional WA: $247,967 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 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Regional WA: $-100,937 Median, Regional WA: $-58,258 First Quartile, Regional WA: $-69,175 Third Quartile, Regional WA: $-66,989 Median, Regional WA: $-27,935 First Quartile, Regional WA: $-24,974 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 2011-2016, Housing Valuation System

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