City of JoondalupEconomic profile
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City of Joondalup

Housing valuation

At June 2018, City of Joondalup had a median house valuation of $591,520, $126,208 higher than the median house valuation for Western 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
City of Joondalup20182014Change
Housing value (at June)City of JoondalupWestern AustraliaCity of Joondalup relative to Western AustraliaCity of JoondalupWestern AustraliaCity of Joondalup relative to Western Australia2014 to 2018
House--------------
First Quartile$495,317$354,996+39.5%$548,980$413,814+32.7%-$53,663
Median$591,520$465,312+27.1%$639,212$537,452+18.9%-$47,692
Third Quartile$748,336$636,804+17.5%$807,575$706,574+14.3%-$59,239
Unit--------------
First Quartile$299,471$272,568+9.9%$376,121$334,690+12.4%-$76,650
Median$343,123$352,615-2.7%$407,407$427,041-4.6%-$64,284
Third Quartile$396,819$446,927-11.2%$449,923$540,710-16.8%-$53,104

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Western Australia: $446,927 Median, Western Australia: $352,615 First Quartile, Western Australia: $272,568 Third Quartile, Western Australia: $636,804 Median, Western Australia: $465,312 First Quartile, Western Australia: $354,996 Third Quartile, City of Joondalup: $396,819 Median, City of Joondalup: $343,123 First Quartile, City of Joondalup: $299,471 Third Quartile, City of Joondalup: $748,336 Median, City of Joondalup: $591,520 First Quartile, City of Joondalup: $495,317
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Western Australia: $-93,783 Median, Western Australia: $-74,426 First Quartile, Western Australia: $-62,122 Third Quartile, Western Australia: $-69,770 Median, Western Australia: $-72,140 First Quartile, Western Australia: $-58,818 Third Quartile, City of Joondalup: $-53,104 Median, City of Joondalup: $-64,284 First Quartile, City of Joondalup: $-76,650 Third Quartile, City of Joondalup: $-59,239 Median, City of Joondalup: $-47,692 First Quartile, City of Joondalup: $-53,663
Source: Hometrack 2014-2018, Housing Valuation System

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