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Renmark Paringa Council area

Housing valuation

At June 2018, Renmark Paringa Council area had a median house valuation of $215,795, $8,939 higher than the median house valuation for Berri Barmera Council area.

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
Renmark Paringa Council area20182014Change
Housing value (at June)Renmark Paringa Council areaBerri Barmera Council areaRenmark Paringa Council area relative to Berri Barmera Council areaRenmark Paringa Council areaBerri Barmera Council areaRenmark Paringa Council area relative to Berri Barmera Council area2014 to 2018
House--------------
First Quartile$168,593$168,272+0.2%$177,761$155,434+14.4%-$9,168
Median$215,795$206,856+4.3%$212,447$193,522+9.8%+$3,348
Third Quartile$285,028$276,159+3.2%$267,327$243,693+9.7%+$17,701
Unit--------------
First Quartile$133,295$141,739-6.0%$102,487$87,656+16.9%+$30,808
Median$147,865$154,841-4.5%$103,261$109,402-5.6%+$44,604
Third Quartile$161,407$155,462+3.8%$111,721$113,010-1.1%+$49,686

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Berri Barmera Council area: $155,462 Median, Berri Barmera Council area: $154,841 First Quartile, Berri Barmera Council area: $141,739 Third Quartile, Berri Barmera Council area: $276,159 Median, Berri Barmera Council area: $206,856 First Quartile, Berri Barmera Council area: $168,272 Third Quartile, Renmark Paringa Council area: $161,407 Median, Renmark Paringa Council area: $147,865 First Quartile, Renmark Paringa Council area: $133,295 Third Quartile, Renmark Paringa Council area: $285,028 Median, Renmark Paringa Council area: $215,795 First Quartile, Renmark Paringa Council area: $168,593
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Berri Barmera Council area: $42,452 Median, Berri Barmera Council area: $45,439 First Quartile, Berri Barmera Council area: $54,083 Third Quartile, Berri Barmera Council area: $32,466 Median, Berri Barmera Council area: $13,334 First Quartile, Berri Barmera Council area: $12,838 Third Quartile, Renmark Paringa Council area: $49,686 Median, Renmark Paringa Council area: $44,604 First Quartile, Renmark Paringa Council area: $30,808 Third Quartile, Renmark Paringa Council area: $17,701 Median, Renmark Paringa Council area: $3,348 First Quartile, Renmark Paringa Council area: $-9,168
Source: Hometrack 2014-2018, Housing Valuation System

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