City of CaseyEconomic profile
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City of Casey

Rental listings

At June 2017, the City of Casey had a median house rental of $380, $30 lower than the median house rental for Greater Melbourne.

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
City of Casey20172013Change
Housing value (at June)City of CaseyGreater MelbourneCity of Casey relative to Greater MelbourneCity of CaseyGreater MelbourneCity of Casey relative to Greater Melbourne2013 to 2017
House--------------
First Quartile$350$360-2.8%$310$315-1.6%+$40
Median$380$410-7.3%$340$360-5.6%+$40
Third Quartile$420$520-19.2%$380$450-15.6%+$40
Median Rental Yield3.9%3.3%--5.0%4.4%----
Unit--------------
First Quartile$300$330-9.1%$280$290-3.4%+$20
Median$325$385-15.6%$300$340-11.8%+$25
Third Quartile$360$460-21.7%$325$410-20.7%+$35
Median Rental Yield4.8%4.2%--5.2%4.6%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Greater Melbourne: $460 Median, Greater Melbourne: $385 First Quartile, Greater Melbourne: $330 Third Quartile, Greater Melbourne: $520 Median, Greater Melbourne: $410 First Quartile, Greater Melbourne: $360 Third Quartile, City of Casey: $360 Median, City of Casey: $325 First Quartile, City of Casey: $300 Third Quartile, City of Casey: $420 Median, City of Casey: $380 First Quartile, City of Casey: $350
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, Greater Melbourne: $50 Median, Greater Melbourne: $45 First Quartile, Greater Melbourne: $40 Third Quartile, Greater Melbourne: $70 Median, Greater Melbourne: $50 First Quartile, Greater Melbourne: $45 Third Quartile, City of Casey: $35 Median, City of Casey: $25 First Quartile, City of Casey: $20 Third Quartile, City of Casey: $40 Median, City of Casey: $40 First Quartile, City of Casey: $40
Source: Hometrack 2011-2016, Automated Valuation System

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