City of CaseyEconomic profile
Skip to content

City of Casey

Housing valuation

At June 2017, City of Casey had a median house valuation of $542,228, $75,787 higher than the median house valuation for Cardinia Shire.

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 Casey20172013Change
Housing value (at June)City of CaseyCardinia ShireCity of Casey relative to Cardinia ShireCity of CaseyCardinia ShireCity of Casey relative to Cardinia Shire2013 to 2017
House--------------
First Quartile$465,062$401,495+15.8%$327,752$313,489+4.5%+$137,310
Median$542,228$466,441+16.2%$374,801$361,783+3.6%+$167,427
Third Quartile$640,361$603,114+6.2%$444,896$471,946-5.7%+$195,465
Unit--------------
First Quartile$315,757$306,259+3.1%$265,126$243,526+8.9%+$50,631
Median$356,806$330,749+7.9%$290,930$259,982+11.9%+$65,876
Third Quartile$426,843$362,201+17.8%$324,110$284,021+14.1%+$102,733

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Cardinia Shire: $362,201 Median, Cardinia Shire: $330,749 First Quartile, Cardinia Shire: $306,259 Third Quartile, Cardinia Shire: $603,114 Median, Cardinia Shire: $466,441 First Quartile, Cardinia Shire: $401,495 Third Quartile, City of Casey: $426,843 Median, City of Casey: $356,806 First Quartile, City of Casey: $315,757 Third Quartile, City of Casey: $640,361 Median, City of Casey: $542,228 First Quartile, City of Casey: $465,062
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Cardinia Shire: $78,180 Median, Cardinia Shire: $70,767 First Quartile, Cardinia Shire: $62,733 Third Quartile, Cardinia Shire: $131,168 Median, Cardinia Shire: $104,658 First Quartile, Cardinia Shire: $88,006 Third Quartile, City of Casey: $102,733 Median, City of Casey: $65,876 First Quartile, City of Casey: $50,631 Third Quartile, City of Casey: $195,465 Median, City of Casey: $167,427 First Quartile, City of Casey: $137,310
Source: Hometrack 2011-2016, Housing Valuation System

To continue building your economic story go to...

v18.09.24-1.0.0