Upper Lachlan ShireEconomic profile
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Upper Lachlan Shire

Housing valuation

At June 2018, Upper Lachlan Shire had a median house valuation of $413,716, $326,728 lower than the median house valuation for New South Wales.

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
Upper Lachlan Shire20182014Change
Housing value (at June)Upper Lachlan ShireNew South WalesUpper Lachlan Shire relative to New South WalesUpper Lachlan ShireNew South WalesUpper Lachlan Shire relative to New South Wales2014 to 2018
House--------------
First Quartile$317,984$498,085-36.2%$249,360$361,802-31.1%+$68,624
Median$413,716$740,444-44.1%$331,099$508,933-34.9%+$82,617
Third Quartile$620,648$1,171,986-47.0%$454,580$799,290-43.1%+$166,068
Unit--------------
First Quartile$372,998$485,261-23.1%$307,372$343,269-10.5%+$65,626
Median$372,998$676,368-44.9%$307,507$496,521-38.1%+$65,491
Third Quartile$373,002$890,202-58.1%$307,510$659,154-53.3%+$65,492

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, New South Wales: $890,202 Median, New South Wales: $676,368 First Quartile, New South Wales: $485,261 Third Quartile, New South Wales: $1,171,986 Median, New South Wales: $740,444 First Quartile, New South Wales: $498,085 Third Quartile, Upper Lachlan Shire: $373,002 Median, Upper Lachlan Shire: $372,998 First Quartile, Upper Lachlan Shire: $372,998 Third Quartile, Upper Lachlan Shire: $620,648 Median, Upper Lachlan Shire: $413,716 First Quartile, Upper Lachlan Shire: $317,984
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, New South Wales: $231,048 Median, New South Wales: $179,847 First Quartile, New South Wales: $141,992 Third Quartile, New South Wales: $372,696 Median, New South Wales: $231,511 First Quartile, New South Wales: $136,283 Third Quartile, Upper Lachlan Shire: $65,492 Median, Upper Lachlan Shire: $65,491 First Quartile, Upper Lachlan Shire: $65,626 Third Quartile, Upper Lachlan Shire: $166,068 Median, Upper Lachlan Shire: $82,617 First Quartile, Upper Lachlan Shire: $68,624
Source: Hometrack 2014-2018, Housing Valuation System

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