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 Brimbank20182016Change
Housing value (at June)City of BrimbankGreater MelbourneCity of Brimbank relative to Greater MelbourneCity of BrimbankGreater MelbourneCity of Brimbank relative to Greater Melbourne2016 to 2018
House--------------
First Quartile$589,427$619,552-4.9%$432,726$466,163-7.2%+$156,701
Median$659,510$812,306-18.8%$495,092$650,140-23.8%+$164,418
Third Quartile$741,628$1,178,633-37.1%$571,686$977,536-41.5%+$169,942
Unit--------------
First Quartile$390,871$451,813-13.5%$300,257$384,096-21.8%+$90,614
Median$438,587$552,448-20.6%$332,330$490,558-32.3%+$106,257
Third Quartile$488,117$684,703-28.7%$370,346$612,545-39.5%+$117,771

Source: Hometrack 2016-2018, 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 2016-2018, Housing Valuation System
Change in housing values, 2016 to 2018
Change in housing values, 2016 to 2018 Third Quartile, Greater Melbourne: $72,158 Median, Greater Melbourne: $61,890 First Quartile, Greater Melbourne: $67,717 Third Quartile, Greater Melbourne: $201,097 Median, Greater Melbourne: $162,166 First Quartile, Greater Melbourne: $153,389 Third Quartile, City of Brimbank: $117,771 Median, City of Brimbank: $106,257 First Quartile, City of Brimbank: $90,614 Third Quartile, City of Brimbank: $169,942 Median, City of Brimbank: $164,418 First Quartile, City of Brimbank: $156,701
Source: Hometrack 2016-2018, Housing Valuation System

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