Parkes ShireEconomic profile
Skip to content

Parkes Shire

Housing valuation

At June 2018, Parkes Shire had a median house valuation of $241,208, $328,482 lower than the median house valuation for 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
Parkes Shire20182014Change
Housing value (at June)Parkes ShireAustraliaParkes Shire relative to AustraliaParkes ShireAustraliaParkes Shire relative to Australia2014 to 2018
House--------------
First Quartile$184,049$374,663-50.9%$191,406$333,867-42.7%-$7,357
Median$241,208$569,690-57.7%$239,947$453,304-47.1%+$1,261
Third Quartile$335,539$849,406-60.5%$302,906$646,253-53.1%+$32,633
Unit--------------
First Quartile$202,154$344,647-41.3%$240,865$299,346-19.5%-$38,711
Median$225,814$485,921-53.5%$249,021$403,672-38.3%-$23,207
Third Quartile$239,931$696,893-65.6%$255,053$555,745-54.1%-$15,122

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Australia: $696,893 Median, Australia: $485,921 First Quartile, Australia: $344,647 Third Quartile, Australia: $849,406 Median, Australia: $569,690 First Quartile, Australia: $374,663 Third Quartile, Parkes Shire: $239,931 Median, Parkes Shire: $225,814 First Quartile, Parkes Shire: $202,154 Third Quartile, Parkes Shire: $335,539 Median, Parkes Shire: $241,208 First Quartile, Parkes Shire: $184,049
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Australia: $141,148 Median, Australia: $82,249 First Quartile, Australia: $45,301 Third Quartile, Australia: $203,153 Median, Australia: $116,386 First Quartile, Australia: $40,796 Third Quartile, Parkes Shire: $-15,122 Median, Parkes Shire: $-23,207 First Quartile, Parkes Shire: $-38,711 Third Quartile, Parkes Shire: $32,633 Median, Parkes Shire: $1,261 First Quartile, Parkes Shire: $-7,357
Source: Hometrack 2014-2018, Housing Valuation System

To continue building your economic story go to...

v19.09.08-1.0.0