City of DarebinEconomic profile
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City of Darebin

Housing valuation

At June 2017, City of Darebin had a median house valuation of $996,895, $392,215 higher 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 Darebin20172013Change
Housing value (at June)City of DarebinVictoriaCity of Darebin relative to VictoriaCity of DarebinVictoriaCity of Darebin relative to Victoria2013 to 2017
House--------------
First Quartile$825,378$402,814+104.9%$483,982$322,519+50.1%+$341,396
Median$996,895$604,680+64.9%$595,015$424,044+40.3%+$401,880
Third Quartile$1,204,235$956,823+25.9%$727,285$614,822+18.3%+$476,950
Unit--------------
First Quartile$422,262$368,310+14.6%$328,141$294,921+11.3%+$94,121
Median$481,563$496,468-3.0%$366,695$386,032-5.0%+$114,868
Third Quartile$555,406$630,858-12.0%$420,332$493,165-14.8%+$135,074

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 Darebin: $555,406 Median, City of Darebin: $481,563 First Quartile, City of Darebin: $422,262 Third Quartile, City of Darebin: $1,204,235 Median, City of Darebin: $996,895 First Quartile, City of Darebin: $825,378
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Victoria: $137,693 Median, Victoria: $110,436 First Quartile, Victoria: $73,389 Third Quartile, Victoria: $342,001 Median, Victoria: $180,636 First Quartile, Victoria: $80,295 Third Quartile, City of Darebin: $135,074 Median, City of Darebin: $114,868 First Quartile, City of Darebin: $94,121 Third Quartile, City of Darebin: $476,950 Median, City of Darebin: $401,880 First Quartile, City of Darebin: $341,396
Source: Hometrack 2011-2016, Housing Valuation System

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