Gunnedah Shire CouncilEconomic profile
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Gunnedah Shire

Housing valuation

At June 2018, Gunnedah Shire had a median house valuation of $346,045, $223,645 lower than the median house valuation for 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 2014-2018, Housing Valuation System

Housing values
Gunnedah Shire20182016Change
Housing value (at June)Gunnedah ShireAustraliaGunnedah Shire relative to AustraliaGunnedah ShireAustraliaGunnedah Shire relative to Australia2016 to 2018
House--------------
First Quartile$249,365$374,663-33.4%$255,737$350,664-27.1%-$6,372
Median$346,045$569,690-39.3%$356,463$503,718-29.2%-$10,418
Third Quartile$511,855$849,406-39.7%$522,388$752,851-30.6%-$10,533
Unit--------------
First Quartile$225,598$344,647-34.5%$132,628$322,178-58.8%+$92,970
Median$265,735$485,921-45.3%$174,320$446,711-61.0%+$91,415
Third Quartile$317,982$696,893-54.4%$230,530$642,705-64.1%+$87,452

Source: Hometrack 2016-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Australia: $696,893 Median, Australia: $485,921 First Quartile, Australia: $344,647 Third Quartile, Australia: $849,406 Median, Australia: $569,690 First Quartile, Australia: $374,663 Third Quartile, Gunnedah Shire: $317,982 Median, Gunnedah Shire: $265,735 First Quartile, Gunnedah Shire: $225,598 Third Quartile, Gunnedah Shire: $511,855 Median, Gunnedah Shire: $346,045 First Quartile, Gunnedah Shire: $249,365
Source: Hometrack 2016-2018, Housing Valuation System
Change in housing values, 2016 to 2018
Change in housing values, 2016 to 2018 Third Quartile, Australia: $54,188 Median, Australia: $39,210 First Quartile, Australia: $22,469 Third Quartile, Australia: $96,555 Median, Australia: $65,972 First Quartile, Australia: $23,999 Third Quartile, Gunnedah Shire: $87,452 Median, Gunnedah Shire: $91,415 First Quartile, Gunnedah Shire: $92,970 Third Quartile, Gunnedah Shire: $-10,533 Median, Gunnedah Shire: $-10,418 First Quartile, Gunnedah Shire: $-6,372
Source: Hometrack 2016-2018, Housing Valuation System

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