City of BrimbankEconomic profile
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City of Brimbank

Housing valuation

At June 2017, City of Brimbank had a median house valuation of $599,852, $157,119 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 2013-2017, Housing Valuation System

Housing values
City of Brimbank20172013Change
Housing value (at June)City of BrimbankGreater MelbourneCity of Brimbank relative to Greater MelbourneCity of BrimbankGreater MelbourneCity of Brimbank relative to Greater Melbourne2013 to 2017
House--------------
First Quartile$529,797$549,689-3.6%$339,031$381,114-11.0%+$190,766
Median$599,852$756,971-20.8%$375,156$498,619-24.8%+$224,696
Third Quartile$686,096$1,144,662-40.1%$427,756$694,174-38.4%+$258,340
Unit--------------
First Quartile$334,133$414,415-19.4%$271,579$327,062-17.0%+$62,554
Median$375,490$523,246-28.2%$297,697$410,461-27.5%+$77,793
Third Quartile$430,309$654,149-34.2%$325,268$511,663-36.4%+$105,041

Source: Hometrack 2013-2017, 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 Brimbank: $430,309 Median, City of Brimbank: $375,490 First Quartile, City of Brimbank: $334,133 Third Quartile, City of Brimbank: $686,096 Median, City of Brimbank: $599,852 First Quartile, City of Brimbank: $529,797
Source: Hometrack 2013-2017, 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 Brimbank: $105,041 Median, City of Brimbank: $77,793 First Quartile, City of Brimbank: $62,554 Third Quartile, City of Brimbank: $258,340 Median, City of Brimbank: $224,696 First Quartile, City of Brimbank: $190,766
Source: Hometrack 2013-2017, Housing Valuation System

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