Glenelg ShireEconomic profile
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Glenelg Shire

Rental listings

At June 2017, Glenelg Shire had a median house rental of $245, $135 lower than the median house rental for Victoria.

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 2014-2018, Automated Valuation System

Rental listings
Glenelg Shire20172014Change
Housing value (at June)Glenelg ShireVictoriaGlenelg Shire relative to VictoriaGlenelg ShireVictoriaGlenelg Shire relative to Victoria2014 to 2017
House--------------
First Quartile$213$323-34.1%$200$295-32.2%+$13
Median$245$380-35.5%$240$350-31.4%+$5
Third Quartile$293$470-37.7%$280$425-34.1%+$13
Median Rental Yield5.7%3.6%--5.6%4.4%----
Unit--------------
First Quartile$155$310-50.0%$155$280-44.6%0
Median$170$380-55.3%$180$340-47.1%-$10
Third Quartile$245$470-47.9%$228$420-45.7%+$17
Median Rental Yield5.6%4.3%--5.9%4.5%----

Source: Hometrack 2014-2017, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Victoria: $470 Median, Victoria: $380 First Quartile, Victoria: $310 Third Quartile, Victoria: $470 Median, Victoria: $380 First Quartile, Victoria: $323 Third Quartile, Glenelg Shire: $245 Median, Glenelg Shire: $170 First Quartile, Glenelg Shire: $155 Third Quartile, Glenelg Shire: $293 Median, Glenelg Shire: $245 First Quartile, Glenelg Shire: $213
Source: Hometrack 2014-2017, Automated Valuation System
Change in rental listings, 2014 to 2017
Change in rental listings, 2014 to 2017 Third Quartile, Victoria: $50 Median, Victoria: $40 First Quartile, Victoria: $30 Third Quartile, Victoria: $45 Median, Victoria: $30 First Quartile, Victoria: $28 Third Quartile, Glenelg Shire: $17 Median, Glenelg Shire: $-10 First Quartile, Glenelg Shire: $0 Third Quartile, Glenelg Shire: $13 Median, Glenelg Shire: $5 First Quartile, Glenelg Shire: $13
Source: Hometrack 2014-2017, Automated Valuation System

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