City of BrimbankEconomic profile
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City of Brimbank

Housing valuation

At June 2018, City of Brimbank had a median house valuation of $659,510, $152,796 lower 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 Brimbank20182014Change
Housing value (at June)City of BrimbankGreater MelbourneCity of Brimbank relative to Greater MelbourneCity of BrimbankGreater MelbourneCity of Brimbank relative to Greater Melbourne2014 to 2018
House--------------
First Quartile$589,427$619,552-4.9%$355,771$402,050-11.5%+$233,656
Median$659,510$812,306-18.8%$395,356$539,700-26.7%+$264,154
Third Quartile$741,628$1,178,633-37.1%$451,924$769,917-41.3%+$289,704
Unit--------------
First Quartile$390,871$451,813-13.5%$274,892$352,986-22.1%+$115,979
Median$438,587$552,448-20.6%$301,070$449,745-33.1%+$137,517
Third Quartile$488,117$684,703-28.7%$333,917$560,465-40.4%+$154,200

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 Brimbank: $488,117 Median, City of Brimbank: $438,587 First Quartile, City of Brimbank: $390,871 Third Quartile, City of Brimbank: $741,628 Median, City of Brimbank: $659,510 First Quartile, City of Brimbank: $589,427
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 Brimbank: $154,200 Median, City of Brimbank: $137,517 First Quartile, City of Brimbank: $115,979 Third Quartile, City of Brimbank: $289,704 Median, City of Brimbank: $264,154 First Quartile, City of Brimbank: $233,656
Source: Hometrack 2014-2018, Housing Valuation System

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