City of CaseyEconomic profile
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City of Casey

Housing valuation

At June 2017, City of Casey had a median house valuation of $542,228, $62,452 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 Casey20172011Change
Housing value (at June)City of CaseyVictoriaCity of Casey relative to VictoriaCity of CaseyVictoriaCity of Casey relative to Victoria2011 to 2017
House--------------
First Quartile$465,062$402,814+15.5%$349,523$331,532+5.4%+$115,539
Median$542,228$604,680-10.3%$399,857$450,955-11.3%+$142,371
Third Quartile$640,361$956,823-33.1%$475,822$657,104-27.6%+$164,539
Unit--------------
First Quartile$315,757$368,310-14.3%$273,700$308,778-11.4%+$42,057
Median$356,806$496,468-28.1%$302,054$410,576-26.4%+$54,752
Third Quartile$426,843$630,858-32.3%$341,079$526,702-35.2%+$85,764

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Victoria: $630,858 Median, Victoria: $496,468 First Quartile, Victoria: $368,310 Third Quartile, Victoria: $956,823 Median, Victoria: $604,680 First Quartile, Victoria: $402,814 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, 2011 to 2017
Change in housing values, 2011 to 2017 Third Quartile, Victoria: $104,156 Median, Victoria: $85,892 First Quartile, Victoria: $59,532 Third Quartile, Victoria: $299,719 Median, Victoria: $153,725 First Quartile, Victoria: $71,282 Third Quartile, City of Casey: $85,764 Median, City of Casey: $54,752 First Quartile, City of Casey: $42,057 Third Quartile, City of Casey: $164,539 Median, City of Casey: $142,371 First Quartile, City of Casey: $115,539
Source: Hometrack 2011-2016, Housing Valuation System

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