Randwick City CouncilEconomic profile
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Randwick City

Rental listings

At June 2017, Randwick City had a median house rental of $1,050, $600 higher 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 2013-2017, Automated Valuation System

Rental listings
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$825$360+129.2%$653$330+97.9%+$172
Median$1,050$450+133.3%$850$415+104.8%+$200
Third Quartile$1,350$600+125.0%$1,100$570+93.0%+$250
Median Rental Yield2.7%3.7%--3.7%5.1%----
Unit--------------
First Quartile$550$360+52.8%$480$320+50.0%+$70
Median$630$470+34.0%$550$420+31.0%+$80
Third Quartile$730$600+21.7%$630$550+14.5%+$100
Median Rental Yield3.5%4.0%--4.8%5.3%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, New South Wales: $600 Median, New South Wales: $470 First Quartile, New South Wales: $360 Third Quartile, New South Wales: $600 Median, New South Wales: $450 First Quartile, New South Wales: $360 Third Quartile, Randwick City: $730 Median, Randwick City: $630 First Quartile, Randwick City: $550 Third Quartile, Randwick City: $1,350 Median, Randwick City: $1,050 First Quartile, Randwick City: $825
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2017
Change in rental listings, 2013 to 2017 Third Quartile, New South Wales: $50 Median, New South Wales: $50 First Quartile, New South Wales: $40 Third Quartile, New South Wales: $30 Median, New South Wales: $35 First Quartile, New South Wales: $30 Third Quartile, Randwick City: $100 Median, Randwick City: $80 First Quartile, Randwick City: $70 Third Quartile, Randwick City: $250 Median, Randwick City: $200 First Quartile, Randwick City: $172
Source: Hometrack 2011-2016, Automated Valuation System

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