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Redland City

Housing valuation

At June 2018, Redland City had a median house valuation of $507,401, $49,041 higher than the median house valuation for Queensland.

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
Redland City20182014Change
Housing value (at June)Redland CityQueenslandRedland City relative to QueenslandRedland CityQueenslandRedland City relative to Queensland2014 to 2018
House--------------
First Quartile$400,183$316,285+26.5%$341,336$316,236+7.9%+$58,847
Median$507,401$458,360+10.7%$436,664$418,290+4.4%+$70,737
Third Quartile$621,423$639,156-2.8%$536,666$543,256-1.2%+$84,757
Unit--------------
First Quartile$314,139$273,559+14.8%$294,847$262,692+12.2%+$19,292
Median$357,959$356,880+0.3%$333,112$328,583+1.4%+$24,847
Third Quartile$418,025$444,896-6.0%$376,943$408,410-7.7%+$41,082

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Queensland: $444,896 Median, Queensland: $356,880 First Quartile, Queensland: $273,559 Third Quartile, Queensland: $639,156 Median, Queensland: $458,360 First Quartile, Queensland: $316,285 Third Quartile, Redland City: $418,025 Median, Redland City: $357,959 First Quartile, Redland City: $314,139 Third Quartile, Redland City: $621,423 Median, Redland City: $507,401 First Quartile, Redland City: $400,183
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Queensland: $36,486 Median, Queensland: $28,297 First Quartile, Queensland: $10,867 Third Quartile, Queensland: $95,900 Median, Queensland: $40,070 First Quartile, Queensland: $49 Third Quartile, Redland City: $41,082 Median, Redland City: $24,847 First Quartile, Redland City: $19,292 Third Quartile, Redland City: $84,757 Median, Redland City: $70,737 First Quartile, Redland City: $58,847
Source: Hometrack 2014-2018, Housing Valuation System

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