Randwick City CouncilEconomic profile
Skip to content

Randwick City

Housing valuation

At June 2017, Randwick City had a median house valuation of $2,147,984, $1,436,978 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
Randwick City20172013Change
Housing value (at June)Randwick CityNew South WalesRandwick City relative to New South WalesRandwick CityNew South WalesRandwick City relative to New South Wales2013 to 2017
House--------------
First Quartile$1,817,296$459,213+295.7%$1,016,654$331,720+206.5%+$800,642
Median$2,147,984$711,006+202.1%$1,212,901$457,239+165.3%+$935,083
Third Quartile$2,627,039$1,184,666+121.8%$1,476,302$701,375+110.5%+$1,150,737
Unit--------------
First Quartile$860,896$461,371+86.6%$549,706$305,938+79.7%+$311,190
Median$960,994$671,543+43.1%$608,147$430,178+41.4%+$352,847
Third Quartile$1,109,453$903,371+22.8%$680,171$570,847+19.2%+$429,282

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, Randwick City: $1,109,453 Median, Randwick City: $960,994 First Quartile, Randwick City: $860,896 Third Quartile, Randwick City: $2,627,039 Median, Randwick City: $2,147,984 First Quartile, Randwick City: $1,817,296
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, Randwick City: $429,282 Median, Randwick City: $352,847 First Quartile, Randwick City: $311,190 Third Quartile, Randwick City: $1,150,737 Median, Randwick City: $935,083 First Quartile, Randwick City: $800,642
Source: Hometrack 2011-2016, Housing Valuation System

To continue building your economic story go to...

v18.05.02-1.0.2