Inner West CouncilEconomic profile
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Inner West Council area

Housing valuation

At June 2018, Inner West Council area had a median house valuation of $1,534,459, $964,769 higher 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
Inner West Council area20182014Change
Housing value (at June)Inner West Council areaAustraliaInner West Council area relative to AustraliaInner West Council areaAustraliaInner West Council area relative to Australia2014 to 2018
House--------------
First Quartile$1,354,588$374,663+261.5%$924,825$333,867+177.0%+$429,763
Median$1,534,459$569,690+169.3%$1,041,377$453,304+129.7%+$493,082
Third Quartile$1,782,380$849,406+109.8%$1,196,134$646,253+85.1%+$586,246
Unit--------------
First Quartile$669,452$344,647+94.2%$511,679$299,346+70.9%+$157,773
Median$752,272$485,921+54.8%$571,653$403,672+41.6%+$180,619
Third Quartile$892,700$696,893+28.1%$663,850$555,745+19.5%+$228,850

Source: Hometrack 2014-2018, 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, Inner West Council area: $892,700 Median, Inner West Council area: $752,272 First Quartile, Inner West Council area: $669,452 Third Quartile, Inner West Council area: $1,782,380 Median, Inner West Council area: $1,534,459 First Quartile, Inner West Council area: $1,354,588
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Australia: $141,148 Median, Australia: $82,249 First Quartile, Australia: $45,301 Third Quartile, Australia: $203,153 Median, Australia: $116,386 First Quartile, Australia: $40,796 Third Quartile, Inner West Council area: $228,850 Median, Inner West Council area: $180,619 First Quartile, Inner West Council area: $157,773 Third Quartile, Inner West Council area: $586,246 Median, Inner West Council area: $493,082 First Quartile, Inner West Council area: $429,763
Source: Hometrack 2014-2018, Housing Valuation System

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