Randwick City CouncilEconomic profile
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Randwick City

Rental listings

At June 2018, Randwick City had a median house rental of $960, $495 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 2014-2018, Automated Valuation System

Rental listings
Randwick City20182014Change
Housing value (at June)Randwick CityNew South WalesRandwick City relative to New South WalesRandwick CityNew South WalesRandwick City relative to New South Wales2014 to 2018
House--------------
First Quartile$750$370+102.7%$680$330+106.1%+$70
Median$960$465+106.5%$880$410+114.6%+$80
Third Quartile$1,300$620+109.7%$1,195$560+113.4%+$105
Median Rental Yield2.6%3.5%--3.1%4.4%----
Unit--------------
First Quartile$550$390+41.0%$490$330+48.5%+$60
Median$625$490+27.6%$560$425+31.8%+$65
Third Quartile$745$620+20.2%$650$550+18.2%+$95
Median Rental Yield3.6%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, Randwick City: $745 Median, Randwick City: $625 First Quartile, Randwick City: $550 Third Quartile, Randwick City: $1,300 Median, Randwick City: $960 First Quartile, Randwick City: $750
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, Randwick City: $95 Median, Randwick City: $65 First Quartile, Randwick City: $60 Third Quartile, Randwick City: $105 Median, Randwick City: $80 First Quartile, Randwick City: $70
Source: Hometrack 2014-2018, Automated Valuation System

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