City of Port PhillipEconomic profile
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City of Port Phillip

Housing valuation

At June 2018, City of Port Phillip had a median house valuation of $1,678,147, $1,008,086 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 Port Phillip20182014Change
Housing value (at June)City of Port PhillipVictoriaCity of Port Phillip relative to VictoriaCity of Port PhillipVictoriaCity of Port Phillip relative to Victoria2014 to 2018
House--------------
First Quartile$1,343,590$461,586+191.1%$945,489$339,363+178.6%+$398,101
Median$1,678,147$670,061+150.4%$1,135,491$451,630+151.4%+$542,656
Third Quartile$2,139,572$1,001,613+113.6%$1,386,049$675,298+105.3%+$753,523
Unit--------------
First Quartile$486,595$412,486+18.0%$440,558$315,318+39.7%+$46,037
Median$574,415$526,184+9.2%$513,339$423,673+21.2%+$61,076
Third Quartile$683,409$662,536+3.2%$611,971$543,876+12.5%+$71,438

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 Port Phillip: $683,409 Median, City of Port Phillip: $574,415 First Quartile, City of Port Phillip: $486,595 Third Quartile, City of Port Phillip: $2,139,572 Median, City of Port Phillip: $1,678,147 First Quartile, City of Port Phillip: $1,343,590
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 Port Phillip: $71,438 Median, City of Port Phillip: $61,076 First Quartile, City of Port Phillip: $46,037 Third Quartile, City of Port Phillip: $753,523 Median, City of Port Phillip: $542,656 First Quartile, City of Port Phillip: $398,101
Source: Hometrack 2014-2018, Housing Valuation System

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