Gunnedah Shire CouncilEconomic profile
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Gunnedah Shire

Housing valuation

At June 2017, Gunnedah Shire had a median house valuation of $333,274, $377,732 lower than the median house valuation for New South Wales.

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
Gunnedah Shire20172013Change
Housing value (at June)Gunnedah ShireNew South WalesGunnedah Shire relative to New South WalesGunnedah ShireNew South WalesGunnedah Shire relative to New South Wales2013 to 2017
House--------------
First Quartile$240,873$459,213-47.5%$225,807$331,720-31.9%+$15,066
Median$333,274$711,006-53.1%$302,457$457,239-33.9%+$30,817
Third Quartile$472,934$1,184,666-60.1%$425,057$701,375-39.4%+$47,877
Unit--------------
First Quartile$214,184$461,371-53.6%$240,912$305,938-21.3%-$26,728
Median$252,867$671,543-62.3%$250,151$430,178-41.8%+$2,716
Third Quartile$295,520$903,371-67.3%$268,026$570,847-53.0%+$27,494

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, New South Wales: $903,371 Median, New South Wales: $671,543 First Quartile, New South Wales: $461,371 Third Quartile, New South Wales: $1,184,666 Median, New South Wales: $711,006 First Quartile, New South Wales: $459,213 Third Quartile, Gunnedah Shire: $295,520 Median, Gunnedah Shire: $252,867 First Quartile, Gunnedah Shire: $214,184 Third Quartile, Gunnedah Shire: $472,934 Median, Gunnedah Shire: $333,274 First Quartile, Gunnedah Shire: $240,873
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, New South Wales: $332,524 Median, New South Wales: $241,365 First Quartile, New South Wales: $155,433 Third Quartile, New South Wales: $483,291 Median, New South Wales: $253,767 First Quartile, New South Wales: $127,493 Third Quartile, Gunnedah Shire: $27,494 Median, Gunnedah Shire: $2,716 First Quartile, Gunnedah Shire: $-26,728 Third Quartile, Gunnedah Shire: $47,877 Median, Gunnedah Shire: $30,817 First Quartile, Gunnedah Shire: $15,066
Source: Hometrack 2011-2016, Housing Valuation System

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