Glenelg Shire
Housing valuation
At June 2017, Glenelg Shire had a median house valuation of $211,966, $392,714 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Glenelg Shire | 2017 | 2013 | Change | ||||||
| Housing value (at June) | Glenelg Shire | Victoria | Glenelg Shire relative to Victoria | Glenelg Shire | Victoria | Glenelg Shire relative to Victoria | 2013 to 2017 | ||
| 0 | House | -- | -- | -- | -- | -- | -- | -- | |
| 1 | First Quartile | $157,509 | $402,814 | -60.9% | $180,661 | $322,519 | -44.0% | -$23,152 | 80295.0000 |
| 2 | Median | $211,966 | $604,680 | -64.9% | $224,984 | $424,044 | -46.9% | -$13,018 | 180636.0000 |
| 3 | Third Quartile | $285,279 | $956,823 | -70.2% | $290,425 | $614,822 | -52.8% | -$5,146 | 342001.0000 |
| 4 | Unit | -- | -- | -- | -- | -- | -- | -- | |
| 5 | First Quartile | $137,837 | $368,310 | -62.6% | $159,927 | $294,921 | -45.8% | -$22,090 | 73389.0000 |
| 6 | Median | $156,589 | $496,468 | -68.5% | $199,727 | $386,032 | -48.3% | -$43,138 | 110436.0000 |
| 7 | Third Quartile | $192,614 | $630,858 | -69.5% | $223,191 | $493,165 | -54.7% | -$30,577 | 137693.0000 |
Source: Hometrack (opens a new window) 2011-2016, Housing Valuation System.
