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, $794,015 higher 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
Inner West Council area20182017Change
Housing value (at June)Inner West Council areaNew South WalesInner West Council area relative to New South WalesInner West Council areaNew South WalesInner West Council area relative to New South Wales2017 to 2018
House--------------
First Quartile$1,354,588$498,085+172.0%$1,439,466$461,301+212.0%-$84,878
Median$1,534,459$740,444+107.2%$1,624,455$712,545+128.0%-$89,996
Third Quartile$1,782,380$1,171,986+52.1%$1,877,322$1,184,705+58.5%-$94,942
Unit--------------
First Quartile$669,452$485,261+38.0%$674,319$460,449+46.4%-$4,867
Median$752,272$676,368+11.2%$766,585$671,373+14.2%-$14,313
Third Quartile$892,700$890,202+0.3%$923,193$903,359+2.2%-$30,493

Source: Hometrack 2017-2018, 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, 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 2017-2018, Housing Valuation System
Change in housing values, 2017 to 2018
Change in housing values, 2017 to 2018 Third Quartile, New South Wales: $-13,157 Median, New South Wales: $4,995 First Quartile, New South Wales: $24,812 Third Quartile, New South Wales: $-12,719 Median, New South Wales: $27,899 First Quartile, New South Wales: $36,784 Third Quartile, Inner West Council area: $-30,493 Median, Inner West Council area: $-14,313 First Quartile, Inner West Council area: $-4,867 Third Quartile, Inner West Council area: $-94,942 Median, Inner West Council area: $-89,996 First Quartile, Inner West Council area: $-84,878
Source: Hometrack 2017-2018, Housing Valuation System

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