Parkes ShireEconomic profile
Skip to content

Parkes Shire

Rental listings

At June 2018, Parkes Shire had a median house rental of $275, $190 lower than the median house rental for New South Wales.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2014-2018, Automated Valuation System

Rental listings
Parkes Shire20182014Change
Housing value (at June)Parkes ShireNew South WalesParkes Shire relative to New South WalesParkes ShireNew South WalesParkes Shire relative to New South Wales2014 to 2018
House--------------
First Quartile$250$370-32.4%$238$330-27.9%+$12
Median$275$465-40.9%$280$410-31.7%-$5
Third Quartile$320$620-48.4%$320$560-42.9%0
Median Rental Yield6.1%3.5%--5.9%4.4%----
Unit--------------
First Quartile$165$390-57.7%$150$330-54.5%+$15
Median$200$490-59.2%$190$425-55.3%+$10
Third Quartile$271$620-56.3%$250$550-54.5%+$21
Median Rental Yield4.5%4.0%--4.2%4.6%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, New South Wales: $620 Median, New South Wales: $490 First Quartile, New South Wales: $390 Third Quartile, New South Wales: $620 Median, New South Wales: $465 First Quartile, New South Wales: $370 Third Quartile, Parkes Shire: $271 Median, Parkes Shire: $200 First Quartile, Parkes Shire: $165 Third Quartile, Parkes Shire: $320 Median, Parkes Shire: $275 First Quartile, Parkes Shire: $250
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, New South Wales: $70 Median, New South Wales: $65 First Quartile, New South Wales: $60 Third Quartile, New South Wales: $60 Median, New South Wales: $55 First Quartile, New South Wales: $40 Third Quartile, Parkes Shire: $21 Median, Parkes Shire: $10 First Quartile, Parkes Shire: $15 Third Quartile, Parkes Shire: $0 Median, Parkes Shire: $-5 First Quartile, Parkes Shire: $12
Source: Hometrack 2014-2018, Automated Valuation System

To continue building your economic story go to...

v19.10.16-1.0.0