City of AlbanyEconomic profile
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City of Albany

Rental listings

At June 2017, the City of Albany had a median house rental of $350, similar to the median house rental for Western Australia.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2013-2017, Automated Valuation System

Rental listings
City of Albany20172014Change
Housing value (at June)City of AlbanyWestern AustraliaCity of Albany relative to Western AustraliaCity of AlbanyWestern AustraliaCity of Albany relative to Western Australia2014 to 2017
House--------------
First Quartile$303$300+1.0%$260$350-25.7%+$43
Median$350$350+0.0%$310$420-26.2%+$40
Third Quartile$410$430-4.7%$370$510-27.5%+$40
Median Rental Yield5.0%4.3%--4.1%4.5%----
Unit--------------
First Quartile$240$260-7.7%$228$320-28.8%+$12
Median$295$320-7.8%$278$400-30.5%+$17
Third Quartile$350$395-11.4%$350$500-30.0%0
Median Rental Yield5.7%4.6%--4.9%4.9%----

Source: Hometrack 2014-2017, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Western Australia: $395 Median, Western Australia: $320 First Quartile, Western Australia: $260 Third Quartile, Western Australia: $430 Median, Western Australia: $350 First Quartile, Western Australia: $300 Third Quartile, City of Albany: $350 Median, City of Albany: $295 First Quartile, City of Albany: $240 Third Quartile, City of Albany: $410 Median, City of Albany: $350 First Quartile, City of Albany: $303
Source: Hometrack 2014-2017, Automated Valuation System
Change in rental listings, 2014 to 2017
Change in rental listings, 2014 to 2017 Third Quartile, Western Australia: $-105 Median, Western Australia: $-80 First Quartile, Western Australia: $-60 Third Quartile, Western Australia: $-80 Median, Western Australia: $-70 First Quartile, Western Australia: $-50 Third Quartile, City of Albany: $0 Median, City of Albany: $17 First Quartile, City of Albany: $12 Third Quartile, City of Albany: $40 Median, City of Albany: $40 First Quartile, City of Albany: $43
Source: Hometrack 2014-2017, Automated Valuation System

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