City of BoroondaraEconomic profile
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City of Boroondara

Housing valuation

At June 2018, City of Boroondara had a median house valuation of $2,071,076, $1,258,770 higher than the median house valuation for Greater Melbourne.

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 Boroondara20182014Change
Housing value (at June)City of BoroondaraGreater MelbourneCity of Boroondara relative to Greater MelbourneCity of BoroondaraGreater MelbourneCity of Boroondara relative to Greater Melbourne2014 to 2018
House--------------
First Quartile$1,791,015$619,552+189.1%$1,207,122$402,050+200.2%+$583,893
Median$2,071,076$812,306+155.0%$1,396,310$539,700+158.7%+$674,766
Third Quartile$2,536,185$1,178,633+115.2%$1,705,720$769,917+121.5%+$830,465
Unit--------------
First Quartile$563,985$451,813+24.8%$515,624$352,986+46.1%+$48,361
Median$701,847$552,448+27.0%$620,438$449,745+38.0%+$81,409
Third Quartile$922,601$684,703+34.7%$760,845$560,465+35.8%+$161,756

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Greater Melbourne: $684,703 Median, Greater Melbourne: $552,448 First Quartile, Greater Melbourne: $451,813 Third Quartile, Greater Melbourne: $1,178,633 Median, Greater Melbourne: $812,306 First Quartile, Greater Melbourne: $619,552 Third Quartile, City of Boroondara: $922,601 Median, City of Boroondara: $701,847 First Quartile, City of Boroondara: $563,985 Third Quartile, City of Boroondara: $2,536,185 Median, City of Boroondara: $2,071,076 First Quartile, City of Boroondara: $1,791,015
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Greater Melbourne: $124,238 Median, Greater Melbourne: $102,703 First Quartile, Greater Melbourne: $98,827 Third Quartile, Greater Melbourne: $408,716 Median, Greater Melbourne: $272,606 First Quartile, Greater Melbourne: $217,502 Third Quartile, City of Boroondara: $161,756 Median, City of Boroondara: $81,409 First Quartile, City of Boroondara: $48,361 Third Quartile, City of Boroondara: $830,465 Median, City of Boroondara: $674,766 First Quartile, City of Boroondara: $583,893
Source: Hometrack 2014-2018, Housing Valuation System

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