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 Casey20172015Change
Housing value (at June)City of CaseyVictoriaCity of Casey relative to VictoriaCity of CaseyVictoriaCity of Casey relative to Victoria2015 to 2017
House--------------
First Quartile$465,062$402,814+15.5%$365,604$347,133+5.3%+$99,458
Median$542,228$604,680-10.3%$424,603$474,887-10.6%+$117,625
Third Quartile$640,361$956,823-33.1%$503,185$738,194-31.8%+$137,176
Unit--------------
First Quartile$315,757$368,310-14.3%$274,669$322,375-14.8%+$41,088
Median$356,806$496,468-28.1%$306,136$438,867-30.2%+$50,670
Third Quartile$426,843$630,858-32.3%$361,647$568,049-36.3%+$65,196

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, 2015 to 2017
Change in housing values, 2015 to 2017 Third Quartile, Victoria: $62,809 Median, Victoria: $57,601 First Quartile, Victoria: $45,935 Third Quartile, Victoria: $218,629 Median, Victoria: $129,793 First Quartile, Victoria: $55,681 Third Quartile, City of Casey: $65,196 Median, City of Casey: $50,670 First Quartile, City of Casey: $41,088 Third Quartile, City of Casey: $137,176 Median, City of Casey: $117,625 First Quartile, City of Casey: $99,458
Source: Hometrack 2011-2016, Housing Valuation System

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