City of AlbanyEconomic profile
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City of Albany

Housing valuation

At June 2018, City of Albany had a median house valuation of $411,949, $53,363 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 2014-2018, Housing Valuation System

Housing values
City of Albany20182017Change
Housing value (at June)City of AlbanyWestern AustraliaCity of Albany relative to Western AustraliaCity of AlbanyWestern AustraliaCity of Albany relative to Western Australia2017 to 2018
House--------------
First Quartile$334,986$354,996-5.6%$331,495$370,932-10.6%+$3,491
Median$411,949$465,312-11.5%$406,594$480,874-15.4%+$5,355
Third Quartile$534,503$636,804-16.1%$535,000$647,803-17.4%-$497
Unit--------------
First Quartile$235,431$272,568-13.6%$236,929$287,986-17.7%-$1,498
Median$265,728$352,615-24.6%$276,897$368,014-24.8%-$11,169
Third Quartile$330,075$446,927-26.1%$336,664$461,693-27.1%-$6,589

Source: Hometrack 2017-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Western Australia: $446,927 Median, Western Australia: $352,615 First Quartile, Western Australia: $272,568 Third Quartile, Western Australia: $636,804 Median, Western Australia: $465,312 First Quartile, Western Australia: $354,996 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 2017-2018, Housing Valuation System
Change in housing values, 2017 to 2018
Change in housing values, 2017 to 2018 Third Quartile, Western Australia: $-14,766 Median, Western Australia: $-15,399 First Quartile, Western Australia: $-15,418 Third Quartile, Western Australia: $-10,999 Median, Western Australia: $-15,562 First Quartile, Western Australia: $-15,936 Third Quartile, City of Albany: $-6,589 Median, City of Albany: $-11,169 First Quartile, City of Albany: $-1,498 Third Quartile, City of Albany: $-497 Median, City of Albany: $5,355 First Quartile, City of Albany: $3,491
Source: Hometrack 2017-2018, Housing Valuation System

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