RDA Darling Downs and South West RegionEconomic profile
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South West RED Region

Housing valuation

At June 2018, South West RED Region had a median house valuation of $4,220,639, $3,845,133 higher than the median house valuation for Regional QLD.

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
South West RED Region20182014Change
Housing value (at June)South West RED RegionRegional QLDSouth West RED Region relative to Regional QLDSouth West RED RegionRegional QLDSouth West RED Region relative to Regional QLD2014 to 2018
House--------------
First Quartile$3,280,612$261,275+1155.6%$692,663$289,120+139.6%+$2,587,949
Median$4,220,639$375,506+1024.0%$941,453$382,365+146.2%+$3,279,186
Third Quartile$5,245,884$554,728+845.7%$1,192,169$490,116+143.2%+$4,053,715
Unit--------------
First Quartile$0$239,611-100.0%$226,453$244,710-7.5%-$226,453
Median$0$342,533-100.0%$232,280$302,253-23.2%-$232,280
Third Quartile$0$450,905-100.0%$235,769$379,782-37.9%-$235,769

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Regional QLD: $450,905 Median, Regional QLD: $342,533 First Quartile, Regional QLD: $239,611 Third Quartile, Regional QLD: $554,728 Median, Regional QLD: $375,506 First Quartile, Regional QLD: $261,275 Third Quartile, South West RED Region: $0 Median, South West RED Region: $0 First Quartile, South West RED Region: $0 Third Quartile, South West RED Region: $5,245,884 Median, South West RED Region: $4,220,639 First Quartile, South West RED Region: $3,280,612
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Regional QLD: $71,123 Median, Regional QLD: $40,280 First Quartile, Regional QLD: $-5,099 Third Quartile, Regional QLD: $64,612 Median, Regional QLD: $-6,859 First Quartile, Regional QLD: $-27,845 Third Quartile, South West RED Region: $-235,769 Median, South West RED Region: $-232,280 First Quartile, South West RED Region: $-226,453 Third Quartile, South West RED Region: $4,053,715 Median, South West RED Region: $3,279,186 First Quartile, South West RED Region: $2,587,949
Source: Hometrack 2014-2018, Housing Valuation System

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