City of Greater GeelongEconomic profile
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City of Greater Geelong

Housing valuation

At June 2018, City of Greater Geelong had a median house valuation of $531,107, $138,954 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 2014-2018, Housing Valuation System

Housing values
City of Greater Geelong20182014Change
Housing value (at June)City of Greater GeelongVictoriaCity of Greater Geelong relative to VictoriaCity of Greater GeelongVictoriaCity of Greater Geelong relative to Victoria2014 to 2018
House--------------
First Quartile$438,018$461,586-5.1%$326,203$339,363-3.9%+$111,815
Median$531,107$670,061-20.7%$396,440$451,630-12.2%+$134,667
Third Quartile$682,379$1,001,613-31.9%$503,703$675,298-25.4%+$178,676
Unit--------------
First Quartile$309,704$412,486-24.9%$253,425$315,318-19.6%+$56,279
Median$374,721$526,184-28.8%$300,820$423,673-29.0%+$73,901
Third Quartile$466,239$662,536-29.6%$373,209$543,876-31.4%+$93,030

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Victoria: $662,536 Median, Victoria: $526,184 First Quartile, Victoria: $412,486 Third Quartile, Victoria: $1,001,613 Median, Victoria: $670,061 First Quartile, Victoria: $461,586 Third Quartile, City of Greater Geelong: $466,239 Median, City of Greater Geelong: $374,721 First Quartile, City of Greater Geelong: $309,704 Third Quartile, City of Greater Geelong: $682,379 Median, City of Greater Geelong: $531,107 First Quartile, City of Greater Geelong: $438,018
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Victoria: $118,660 Median, Victoria: $102,511 First Quartile, Victoria: $97,168 Third Quartile, Victoria: $326,315 Median, Victoria: $218,431 First Quartile, Victoria: $122,223 Third Quartile, City of Greater Geelong: $93,030 Median, City of Greater Geelong: $73,901 First Quartile, City of Greater Geelong: $56,279 Third Quartile, City of Greater Geelong: $178,676 Median, City of Greater Geelong: $134,667 First Quartile, City of Greater Geelong: $111,815
Source: Hometrack 2014-2018, Housing Valuation System

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