City of JoondalupEconomic profile
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City of Joondalup

Housing valuation

At June 2017, City of Joondalup had a median house valuation of $598,536, $82,245 higher than the median house valuation for Greater Perth.

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 2013-2017, Housing Valuation System

Housing values
City of Joondalup20172013Change
Housing value (at June)City of JoondalupGreater PerthCity of Joondalup relative to Greater PerthCity of JoondalupGreater PerthCity of Joondalup relative to Greater Perth2013 to 2017
House--------------
First Quartile$504,715$407,134+24.0%$500,713$417,169+20.0%+$4,002
Median$598,536$516,291+15.9%$592,960$526,786+12.6%+$5,576
Third Quartile$758,877$693,608+9.4%$750,884$700,058+7.3%+$7,993
Unit--------------
First Quartile$341,369$306,321+11.4%$361,255$326,428+10.7%-$19,886
Median$371,615$379,904-2.2%$396,675$403,098-1.6%-$25,060
Third Quartile$429,194$473,402-9.3%$433,729$508,863-14.8%-$4,535

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Greater Perth: $473,402 Median, Greater Perth: $379,904 First Quartile, Greater Perth: $306,321 Third Quartile, Greater Perth: $693,608 Median, Greater Perth: $516,291 First Quartile, Greater Perth: $407,134 Third Quartile, City of Joondalup: $429,194 Median, City of Joondalup: $371,615 First Quartile, City of Joondalup: $341,369 Third Quartile, City of Joondalup: $758,877 Median, City of Joondalup: $598,536 First Quartile, City of Joondalup: $504,715
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Greater Perth: $-35,461 Median, Greater Perth: $-23,194 First Quartile, Greater Perth: $-20,107 Third Quartile, Greater Perth: $-6,450 Median, Greater Perth: $-10,495 First Quartile, Greater Perth: $-10,035 Third Quartile, City of Joondalup: $-4,535 Median, City of Joondalup: $-25,060 First Quartile, City of Joondalup: $-19,886 Third Quartile, City of Joondalup: $7,993 Median, City of Joondalup: $5,576 First Quartile, City of Joondalup: $4,002
Source: Hometrack 2011-2016, Housing Valuation System

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