City of BoroondaraEconomic profile
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City of Boroondara

Housing valuation

At June 2017, City of Boroondara had a median house valuation of $2,009,244, $1,252,273 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 2013-2017, Housing Valuation System

Housing values
City of Boroondara20172013Change
Housing value (at June)City of BoroondaraGreater MelbourneCity of Boroondara relative to Greater MelbourneCity of BoroondaraGreater MelbourneCity of Boroondara relative to Greater Melbourne2013 to 2017
House--------------
First Quartile$1,715,317$549,689+212.1%$993,291$381,114+160.6%+$722,026
Median$2,009,244$756,971+165.4%$1,166,093$498,619+133.9%+$843,151
Third Quartile$2,463,964$1,144,662+115.3%$1,443,793$694,174+108.0%+$1,020,171
Unit--------------
First Quartile$540,863$414,415+30.5%$444,191$327,062+35.8%+$96,672
Median$674,524$523,246+28.9%$532,923$410,461+29.8%+$141,601
Third Quartile$887,249$654,149+35.6%$657,302$511,663+28.5%+$229,947

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Greater Melbourne: $654,149 Median, Greater Melbourne: $523,246 First Quartile, Greater Melbourne: $414,415 Third Quartile, Greater Melbourne: $1,144,662 Median, Greater Melbourne: $756,971 First Quartile, Greater Melbourne: $549,689 Third Quartile, City of Boroondara: $887,249 Median, City of Boroondara: $674,524 First Quartile, City of Boroondara: $540,863 Third Quartile, City of Boroondara: $2,463,964 Median, City of Boroondara: $2,009,244 First Quartile, City of Boroondara: $1,715,317
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Greater Melbourne: $142,486 Median, Greater Melbourne: $112,785 First Quartile, Greater Melbourne: $87,353 Third Quartile, Greater Melbourne: $450,488 Median, Greater Melbourne: $258,352 First Quartile, Greater Melbourne: $168,575 Third Quartile, City of Boroondara: $229,947 Median, City of Boroondara: $141,601 First Quartile, City of Boroondara: $96,672 Third Quartile, City of Boroondara: $1,020,171 Median, City of Boroondara: $843,151 First Quartile, City of Boroondara: $722,026
Source: Hometrack 2011-2016, Housing Valuation System

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