Glenelg ShireEconomic profile
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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 Shire20172013Change
Housing value (at June)Glenelg ShireVictoriaGlenelg Shire relative to VictoriaGlenelg ShireVictoriaGlenelg Shire relative to Victoria2013 to 2017
House--------------
First Quartile$157,509$402,814-60.9%$180,661$322,519-44.0%-$23,152
Median$211,966$604,680-64.9%$224,984$424,044-46.9%-$13,018
Third Quartile$285,279$956,823-70.2%$290,425$614,822-52.8%-$5,146
Unit--------------
First Quartile$137,837$368,310-62.6%$159,927$294,921-45.8%-$22,090
Median$156,589$496,468-68.5%$199,727$386,032-48.3%-$43,138
Third Quartile$192,614$630,858-69.5%$223,191$493,165-54.7%-$30,577

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, Glenelg Shire: $192,614 Median, Glenelg Shire: $156,589 First Quartile, Glenelg Shire: $137,837 Third Quartile, Glenelg Shire: $285,279 Median, Glenelg Shire: $211,966 First Quartile, Glenelg Shire: $157,509
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, Glenelg Shire: $-30,577 Median, Glenelg Shire: $-43,138 First Quartile, Glenelg Shire: $-22,090 Third Quartile, Glenelg Shire: $-5,146 Median, Glenelg Shire: $-13,018 First Quartile, Glenelg Shire: $-23,152
Source: Hometrack 2011-2016, Housing Valuation System

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