City of MonashEconomic profile
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City of Monash

Housing valuation

At June 2017, City of Monash had a median house valuation of $1,210,110, $453,139 higher than the median house valuation for Greater Melbourne.

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 Monash20172013Change
Housing value (at June)City of MonashGreater MelbourneCity of Monash relative to Greater MelbourneCity of MonashGreater MelbourneCity of Monash relative to Greater Melbourne2013 to 2017
House--------------
First Quartile$1,054,128$549,689+91.8%$594,570$381,114+56.0%+$459,558
Median$1,210,110$756,971+59.9%$675,410$498,619+35.5%+$534,700
Third Quartile$1,395,182$1,144,662+21.9%$767,007$694,174+10.5%+$628,175
Unit--------------
First Quartile$526,205$414,415+27.0%$429,582$327,062+31.3%+$96,623
Median$656,862$523,246+25.5%$488,057$410,461+18.9%+$168,805
Third Quartile$806,954$654,149+23.4%$560,383$511,663+9.5%+$246,571

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Greater Melbourne: $654,149 Median, Greater Melbourne: $523,246 First Quartile, Greater Melbourne: $414,415 Third Quartile, Greater Melbourne: $1,144,662 Median, Greater Melbourne: $756,971 First Quartile, Greater Melbourne: $549,689 Third Quartile, City of Monash: $806,954 Median, City of Monash: $656,862 First Quartile, City of Monash: $526,205 Third Quartile, City of Monash: $1,395,182 Median, City of Monash: $1,210,110 First Quartile, City of Monash: $1,054,128
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Greater Melbourne: $142,486 Median, Greater Melbourne: $112,785 First Quartile, Greater Melbourne: $87,353 Third Quartile, Greater Melbourne: $450,488 Median, Greater Melbourne: $258,352 First Quartile, Greater Melbourne: $168,575 Third Quartile, City of Monash: $246,571 Median, City of Monash: $168,805 First Quartile, City of Monash: $96,623 Third Quartile, City of Monash: $628,175 Median, City of Monash: $534,700 First Quartile, City of Monash: $459,558
Source: Hometrack 2011-2016, Housing Valuation System

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