Hobsons Bay CityEconomic profile
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Hobsons Bay City

Housing valuation

At June 2018, Hobsons Bay City had a median house valuation of $899,609, $229,548 higher than the median house valuation for Victoria.

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
Hobsons Bay City20182014Change
Housing value (at June)Hobsons Bay CityVictoriaHobsons Bay City relative to VictoriaHobsons Bay CityVictoriaHobsons Bay City relative to Victoria2014 to 2018
House--------------
First Quartile$703,738$461,586+52.5%$433,502$339,363+27.7%+$270,236
Median$899,609$670,061+34.3%$567,681$451,630+25.7%+$331,928
Third Quartile$1,124,377$1,001,613+12.3%$739,377$675,298+9.5%+$385,000
Unit--------------
First Quartile$466,628$412,486+13.1%$334,778$315,318+6.2%+$131,850
Median$567,596$526,184+7.9%$424,274$423,673+0.1%+$143,322
Third Quartile$692,953$662,536+4.6%$513,173$543,876-5.6%+$179,780

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Victoria: $662,536 Median, Victoria: $526,184 First Quartile, Victoria: $412,486 Third Quartile, Victoria: $1,001,613 Median, Victoria: $670,061 First Quartile, Victoria: $461,586 Third Quartile, Hobsons Bay City: $692,953 Median, Hobsons Bay City: $567,596 First Quartile, Hobsons Bay City: $466,628 Third Quartile, Hobsons Bay City: $1,124,377 Median, Hobsons Bay City: $899,609 First Quartile, Hobsons Bay City: $703,738
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Victoria: $118,660 Median, Victoria: $102,511 First Quartile, Victoria: $97,168 Third Quartile, Victoria: $326,315 Median, Victoria: $218,431 First Quartile, Victoria: $122,223 Third Quartile, Hobsons Bay City: $179,780 Median, Hobsons Bay City: $143,322 First Quartile, Hobsons Bay City: $131,850 Third Quartile, Hobsons Bay City: $385,000 Median, Hobsons Bay City: $331,928 First Quartile, Hobsons Bay City: $270,236
Source: Hometrack 2014-2018, Housing Valuation System

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