City of ParramattaEconomic profile
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City of Parramatta

Housing valuation

At June 2017, City of Parramatta had a median house valuation of $1,255,978, $544,972 higher 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 2013-2017, Housing Valuation System

Housing values
City of Parramatta20172013Change
Housing value (at June)City of ParramattaNew South WalesCity of Parramatta relative to New South WalesCity of ParramattaNew South WalesCity of Parramatta relative to New South Wales2013 to 2017
House--------------
First Quartile$1,063,596$459,213+131.6%$580,031$331,720+74.9%+$483,565
Median$1,255,978$711,006+76.6%$659,760$457,239+44.3%+$596,218
Third Quartile$1,495,517$1,184,666+26.2%$793,611$701,375+13.2%+$701,906
Unit--------------
First Quartile$574,033$461,371+24.4%$366,426$305,938+19.8%+$207,607
Median$672,536$671,543+0.1%$428,323$430,178-0.4%+$244,213
Third Quartile$771,706$903,371-14.6%$504,227$570,847-11.7%+$267,479

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, New South Wales: $903,371 Median, New South Wales: $671,543 First Quartile, New South Wales: $461,371 Third Quartile, New South Wales: $1,184,666 Median, New South Wales: $711,006 First Quartile, New South Wales: $459,213 Third Quartile, City of Parramatta: $771,706 Median, City of Parramatta: $672,536 First Quartile, City of Parramatta: $574,033 Third Quartile, City of Parramatta: $1,495,517 Median, City of Parramatta: $1,255,978 First Quartile, City of Parramatta: $1,063,596
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, New South Wales: $332,524 Median, New South Wales: $241,365 First Quartile, New South Wales: $155,433 Third Quartile, New South Wales: $483,291 Median, New South Wales: $253,767 First Quartile, New South Wales: $127,493 Third Quartile, City of Parramatta: $267,479 Median, City of Parramatta: $244,213 First Quartile, City of Parramatta: $207,607 Third Quartile, City of Parramatta: $701,906 Median, City of Parramatta: $596,218 First Quartile, City of Parramatta: $483,565
Source: Hometrack 2011-2016, Housing Valuation System

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