Grow South East (South East Metropolitan Region)Economic profile
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Grow South East (South East Metropolitan Region)

Housing valuation

At June 2017, Grow South East (South East Metropolitan Region) had a median house valuation of $490,465, $11,222 higher than the median house valuation for Western Australia.

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
Grow South East (South East Metropolitan Region)20172013Change
Housing value (at June)Grow South East (South East Metropolitan Region)Western AustraliaGrow South East (South East Metropolitan Region) relative to Western AustraliaGrow South East (South East Metropolitan Region)Western AustraliaGrow South East (South East Metropolitan Region) relative to Western Australia2013 to 2017
House--------------
First Quartile$392,533$369,359+6.3%$399,826$380,886+5.0%-$7,293
Median$490,465$479,243+2.3%$500,698$496,421+0.9%-$10,233
Third Quartile$627,936$645,726-2.8%$619,984$667,328-7.1%+$7,952
Unit--------------
First Quartile$318,201$286,991+10.9%$332,608$313,575+6.1%-$14,407
Median$383,871$367,211+4.5%$419,228$392,444+6.8%-$35,357
Third Quartile$478,506$460,909+3.8%$503,133$504,487-0.3%-$24,627

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Western Australia: $460,909 Median, Western Australia: $367,211 First Quartile, Western Australia: $286,991 Third Quartile, Western Australia: $645,726 Median, Western Australia: $479,243 First Quartile, Western Australia: $369,359 Third Quartile, Grow South East (South East Metropolitan Region): $478,506 Median, Grow South East (South East Metropolitan Region): $383,871 First Quartile, Grow South East (South East Metropolitan Region): $318,201 Third Quartile, Grow South East (South East Metropolitan Region): $627,936 Median, Grow South East (South East Metropolitan Region): $490,465 First Quartile, Grow South East (South East Metropolitan Region): $392,533
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Western Australia: $-43,578 Median, Western Australia: $-25,233 First Quartile, Western Australia: $-26,584 Third Quartile, Western Australia: $-21,602 Median, Western Australia: $-17,178 First Quartile, Western Australia: $-11,527 Third Quartile, Grow South East (South East Metropolitan Region): $-24,627 Median, Grow South East (South East Metropolitan Region): $-35,357 First Quartile, Grow South East (South East Metropolitan Region): $-14,407 Third Quartile, Grow South East (South East Metropolitan Region): $7,952 Median, Grow South East (South East Metropolitan Region): $-10,233 First Quartile, Grow South East (South East Metropolitan Region): $-7,293
Source: Hometrack 2011-2016, Housing Valuation System

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