City of CaseyEconomic profile
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City of Casey

Housing valuation

At June 2018, City of Casey had a median house valuation of $617,173, $52,888 lower than the median house valuation for Victoria.

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 Casey20182014Change
Housing value (at June)City of CaseyVictoriaCity of Casey relative to VictoriaCity of CaseyVictoriaCity of Casey relative to Victoria2014 to 2018
House--------------
First Quartile$541,710$461,586+17.4%$346,213$339,363+2.0%+$195,497
Median$617,173$670,061-7.9%$398,311$451,630-11.8%+$218,862
Third Quartile$718,914$1,001,613-28.2%$471,255$675,298-30.2%+$247,659
Unit--------------
First Quartile$394,710$412,486-4.3%$276,276$315,318-12.4%+$118,434
Median$437,421$526,184-16.9%$301,788$423,673-28.8%+$135,633
Third Quartile$501,634$662,536-24.3%$342,686$543,876-37.0%+$158,948

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Victoria: $662,536 Median, Victoria: $526,184 First Quartile, Victoria: $412,486 Third Quartile, Victoria: $1,001,613 Median, Victoria: $670,061 First Quartile, Victoria: $461,586 Third Quartile, City of Casey: $501,634 Median, City of Casey: $437,421 First Quartile, City of Casey: $394,710 Third Quartile, City of Casey: $718,914 Median, City of Casey: $617,173 First Quartile, City of Casey: $541,710
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Victoria: $118,660 Median, Victoria: $102,511 First Quartile, Victoria: $97,168 Third Quartile, Victoria: $326,315 Median, Victoria: $218,431 First Quartile, Victoria: $122,223 Third Quartile, City of Casey: $158,948 Median, City of Casey: $135,633 First Quartile, City of Casey: $118,434 Third Quartile, City of Casey: $247,659 Median, City of Casey: $218,862 First Quartile, City of Casey: $195,497
Source: Hometrack 2014-2018, Housing Valuation System

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