City of South PerthEconomic profile
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City of South Perth

Housing valuation

At June 2018, City of South Perth had a median house valuation of $903,926, $438,614 higher than the median house valuation for Western Australia.

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
City of South Perth20182014Change
Housing value (at June)City of South PerthWestern AustraliaCity of South Perth relative to Western AustraliaCity of South PerthWestern AustraliaCity of South Perth relative to Western Australia2014 to 2018
House--------------
First Quartile$773,687$354,996+117.9%$818,363$413,814+97.8%-$44,676
Median$903,926$465,312+94.3%$949,475$537,452+76.7%-$45,549
Third Quartile$1,148,372$636,804+80.3%$1,197,145$706,574+69.4%-$48,773
Unit--------------
First Quartile$402,124$272,568+47.5%$488,344$334,690+45.9%-$86,220
Median$502,152$352,615+42.4%$583,429$427,041+36.6%-$81,277
Third Quartile$622,738$446,927+39.3%$710,415$540,710+31.4%-$87,677

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Western Australia: $446,927 Median, Western Australia: $352,615 First Quartile, Western Australia: $272,568 Third Quartile, Western Australia: $636,804 Median, Western Australia: $465,312 First Quartile, Western Australia: $354,996 Third Quartile, City of South Perth: $622,738 Median, City of South Perth: $502,152 First Quartile, City of South Perth: $402,124 Third Quartile, City of South Perth: $1,148,372 Median, City of South Perth: $903,926 First Quartile, City of South Perth: $773,687
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Western Australia: $-93,783 Median, Western Australia: $-74,426 First Quartile, Western Australia: $-62,122 Third Quartile, Western Australia: $-69,770 Median, Western Australia: $-72,140 First Quartile, Western Australia: $-58,818 Third Quartile, City of South Perth: $-87,677 Median, City of South Perth: $-81,277 First Quartile, City of South Perth: $-86,220 Third Quartile, City of South Perth: $-48,773 Median, City of South Perth: $-45,549 First Quartile, City of South Perth: $-44,676
Source: Hometrack 2014-2018, Housing Valuation System

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