City of MonashEconomic profile
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City of Monash

Housing valuation

At June 2018, City of Monash had a median house valuation of $1,244,926, $574,865 higher than the median house valuation for Victoria.

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 Monash20182014Change
Housing value (at June)City of MonashVictoriaCity of Monash relative to VictoriaCity of MonashVictoriaCity of Monash relative to Victoria2014 to 2018
House--------------
First Quartile$1,070,363$461,586+131.9%$677,400$339,363+99.6%+$392,963
Median$1,244,926$670,061+85.8%$771,304$451,630+70.8%+$473,622
Third Quartile$1,439,254$1,001,613+43.7%$877,365$675,298+29.9%+$561,889
Unit--------------
First Quartile$571,455$412,486+38.5%$463,978$315,318+47.1%+$107,477
Median$701,963$526,184+33.4%$529,619$423,673+25.0%+$172,344
Third Quartile$843,815$662,536+27.4%$613,510$543,876+12.8%+$230,305

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Victoria: $662,536 Median, Victoria: $526,184 First Quartile, Victoria: $412,486 Third Quartile, Victoria: $1,001,613 Median, Victoria: $670,061 First Quartile, Victoria: $461,586 Third Quartile, City of Monash: $843,815 Median, City of Monash: $701,963 First Quartile, City of Monash: $571,455 Third Quartile, City of Monash: $1,439,254 Median, City of Monash: $1,244,926 First Quartile, City of Monash: $1,070,363
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Victoria: $118,660 Median, Victoria: $102,511 First Quartile, Victoria: $97,168 Third Quartile, Victoria: $326,315 Median, Victoria: $218,431 First Quartile, Victoria: $122,223 Third Quartile, City of Monash: $230,305 Median, City of Monash: $172,344 First Quartile, City of Monash: $107,477 Third Quartile, City of Monash: $561,889 Median, City of Monash: $473,622 First Quartile, City of Monash: $392,963
Source: Hometrack 2014-2018, Housing Valuation System

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