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, $394,399 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 2014-2018, Housing Valuation System

Housing values
Gunnedah Shire20182016Change
Housing value (at June)Gunnedah ShireNew South WalesGunnedah Shire relative to New South WalesGunnedah ShireNew South WalesGunnedah Shire relative to New South Wales2016 to 2018
House--------------
First Quartile$249,365$498,085-49.9%$255,737$420,245-39.1%-$6,372
Median$346,045$740,444-53.3%$356,463$639,193-44.2%-$10,418
Third Quartile$511,855$1,171,986-56.3%$522,388$1,039,395-49.7%-$10,533
Unit--------------
First Quartile$225,598$485,261-53.5%$132,628$421,684-68.5%+$92,970
Median$265,735$676,368-60.7%$174,320$613,880-71.6%+$91,415
Third Quartile$317,982$890,202-64.3%$230,530$812,474-71.6%+$87,452

Source: Hometrack 2016-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, New South Wales: $890,202 Median, New South Wales: $676,368 First Quartile, New South Wales: $485,261 Third Quartile, New South Wales: $1,171,986 Median, New South Wales: $740,444 First Quartile, New South Wales: $498,085 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, New South Wales: $77,728 Median, New South Wales: $62,488 First Quartile, New South Wales: $63,577 Third Quartile, New South Wales: $132,591 Median, New South Wales: $101,251 First Quartile, New South Wales: $77,840 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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