Cardinia ShireEconomic profile
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Cardinia Shire

Rental listings

At June 2017, Cardinia Shire had a median house rental of $360, $20 lower than the median house rental for Victoria.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2013-2017, Automated Valuation System

Rental listings
Cardinia Shire20172013Change
Housing value (at June)Cardinia ShireVictoriaCardinia Shire relative to VictoriaCardinia ShireVictoriaCardinia Shire relative to Victoria2013 to 2017
House--------------
First Quartile$330$330+0.0%$300$290+3.4%+$30
Median$360$380-5.3%$320$340-5.9%+$40
Third Quartile$390$475-17.9%$350$420-16.7%+$40
Median Rental Yield4.3%3.7%--5.1%4.6%----
Unit--------------
First Quartile$280$300-6.7%$255$270-5.6%+$25
Median$290$370-21.6%$280$330-15.2%+$10
Third Quartile$320$450-28.9%$295$400-26.3%+$25
Median Rental Yield4.9%4.3%--5.4%4.7%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Victoria: $450 Median, Victoria: $370 First Quartile, Victoria: $300 Third Quartile, Victoria: $475 Median, Victoria: $380 First Quartile, Victoria: $330 Third Quartile, Cardinia Shire: $320 Median, Cardinia Shire: $290 First Quartile, Cardinia Shire: $280 Third Quartile, Cardinia Shire: $390 Median, Cardinia Shire: $360 First Quartile, Cardinia Shire: $330
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Victoria: $50 Median, Victoria: $40 First Quartile, Victoria: $30 Third Quartile, Victoria: $55 Median, Victoria: $40 First Quartile, Victoria: $40 Third Quartile, Cardinia Shire: $25 Median, Cardinia Shire: $10 First Quartile, Cardinia Shire: $25 Third Quartile, Cardinia Shire: $40 Median, Cardinia Shire: $40 First Quartile, Cardinia Shire: $30
Source: Hometrack 2011-2016, Automated Valuation System

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