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

Housing valuation

At June 2018, Grow South East (South East Metropolitan Region) had a median house valuation of $473,330, $8,018 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)20182014Change
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 Australia2014 to 2018
House--------------
First Quartile$371,382$354,996+4.6%$436,357$413,814+5.4%-$64,975
Median$473,330$465,312+1.7%$553,480$537,452+3.0%-$80,150
Third Quartile$620,230$636,804-2.6%$671,907$706,574-4.9%-$51,677
Unit--------------
First Quartile$317,577$272,568+16.5%$391,730$334,690+17.0%-$74,153
Median$385,056$352,615+9.2%$483,645$427,041+13.3%-$98,589
Third Quartile$481,186$446,927+7.7%$597,624$540,710+10.5%-$116,438

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Western Australia: $446,927 Median, Western Australia: $352,615 First Quartile, Western Australia: $272,568 Third Quartile, Western Australia: $636,804 Median, Western Australia: $465,312 First Quartile, Western Australia: $354,996 Third Quartile, Grow South East (South East Metropolitan Region): $481,186 Median, Grow South East (South East Metropolitan Region): $385,056 First Quartile, Grow South East (South East Metropolitan Region): $317,577 Third Quartile, Grow South East (South East Metropolitan Region): $620,230 Median, Grow South East (South East Metropolitan Region): $473,330 First Quartile, Grow South East (South East Metropolitan Region): $371,382
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Western Australia: $-93,783 Median, Western Australia: $-74,426 First Quartile, Western Australia: $-62,122 Third Quartile, Western Australia: $-69,770 Median, Western Australia: $-72,140 First Quartile, Western Australia: $-58,818 Third Quartile, Grow South East (South East Metropolitan Region): $-116,438 Median, Grow South East (South East Metropolitan Region): $-98,589 First Quartile, Grow South East (South East Metropolitan Region): $-74,153 Third Quartile, Grow South East (South East Metropolitan Region): $-51,677 Median, Grow South East (South East Metropolitan Region): $-80,150 First Quartile, Grow South East (South East Metropolitan Region): $-64,975
Source: Hometrack 2014-2018, Housing Valuation System

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