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Lithgow City Council

Housing valuation

At June 2018, Lithgow City Council had a median house valuation of $353,737, $386,707 lower 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
Lithgow City Council 20182014Change
Housing value (at June)Lithgow City Council New South WalesLithgow City Council relative to New South WalesLithgow City Council New South WalesLithgow City Council relative to New South Wales2014 to 2018
House--------------
First Quartile$290,134$498,085-41.8%$209,016$361,802-42.2%+$81,118
Median$353,737$740,444-52.2%$249,303$508,933-51.0%+$104,434
Third Quartile$504,601$1,171,986-56.9%$359,750$799,290-55.0%+$144,851
Unit--------------
First Quartile$293,785$485,261-39.5%$190,628$343,269-44.5%+$103,157
Median$347,756$676,368-48.6%$231,127$496,521-53.5%+$116,629
Third Quartile$470,872$890,202-47.1%$279,821$659,154-57.5%+$191,051

Source: Hometrack 2014-2018, 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, Lithgow City Council : $470,872 Median, Lithgow City Council : $347,756 First Quartile, Lithgow City Council : $293,785 Third Quartile, Lithgow City Council : $504,601 Median, Lithgow City Council : $353,737 First Quartile, Lithgow City Council : $290,134
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, New South Wales: $231,048 Median, New South Wales: $179,847 First Quartile, New South Wales: $141,992 Third Quartile, New South Wales: $372,696 Median, New South Wales: $231,511 First Quartile, New South Wales: $136,283 Third Quartile, Lithgow City Council : $191,051 Median, Lithgow City Council : $116,629 First Quartile, Lithgow City Council : $103,157 Third Quartile, Lithgow City Council : $144,851 Median, Lithgow City Council : $104,434 First Quartile, Lithgow City Council : $81,118
Source: Hometrack 2014-2018, Housing Valuation System

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