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Redland City

Housing valuation

At June 2017, Redland City had a median house valuation of $489,362, $30,009 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 2013-2017, Housing Valuation System

Housing values
Redland City20172013Change
Housing value (at June)Redland CityQueenslandRedland City relative to QueenslandRedland CityQueenslandRedland City relative to Queensland2013 to 2017
House--------------
First Quartile$378,770$318,187+19.0%$319,216$303,498+5.2%+$59,554
Median$489,362$459,353+6.5%$411,919$398,530+3.4%+$77,443
Third Quartile$598,648$632,943-5.4%$508,914$512,407-0.7%+$89,734
Unit--------------
First Quartile$310,695$273,293+13.7%$280,960$253,719+10.7%+$29,735
Median$353,960$353,056+0.3%$312,192$315,561-1.1%+$41,768
Third Quartile$417,364$443,936-6.0%$368,243$390,486-5.7%+$49,121

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Queensland: $443,936 Median, Queensland: $353,056 First Quartile, Queensland: $273,293 Third Quartile, Queensland: $632,943 Median, Queensland: $459,353 First Quartile, Queensland: $318,187 Third Quartile, Redland City: $417,364 Median, Redland City: $353,960 First Quartile, Redland City: $310,695 Third Quartile, Redland City: $598,648 Median, Redland City: $489,362 First Quartile, Redland City: $378,770
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Queensland: $53,450 Median, Queensland: $37,495 First Quartile, Queensland: $19,574 Third Quartile, Queensland: $120,536 Median, Queensland: $60,823 First Quartile, Queensland: $14,689 Third Quartile, Redland City: $49,121 Median, Redland City: $41,768 First Quartile, Redland City: $29,735 Third Quartile, Redland City: $89,734 Median, Redland City: $77,443 First Quartile, Redland City: $59,554
Source: Hometrack 2011-2016, Housing Valuation System

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