Upper Lachlan ShireEconomic profile
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Upper Lachlan Shire

Housing valuation

At June 2017, Upper Lachlan Shire had a median house valuation of $394,300, $316,706 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 Shire20172013Change
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 Wales2013 to 2017
House--------------
First Quartile$289,472$459,213-37.0%$228,681$331,720-31.1%+$60,791
Median$394,300$711,006-44.5%$296,579$457,239-35.1%+$97,721
Third Quartile$558,471$1,184,666-52.9%$415,393$701,375-40.8%+$143,078
Unit--------------
First Quartile$356,942$461,371-22.6%$213,596$305,938-30.2%+$143,346
Median$542,490$671,543-19.2%$213,607$430,178-50.3%+$328,883
Third Quartile$733,617$903,371-18.8%$272,487$570,847-52.3%+$461,130

Source: Hometrack 2013-2017, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, New South Wales: $903,371 Median, New South Wales: $671,543 First Quartile, New South Wales: $461,371 Third Quartile, New South Wales: $1,184,666 Median, New South Wales: $711,006 First Quartile, New South Wales: $459,213 Third Quartile, Upper Lachlan Shire: $733,617 Median, Upper Lachlan Shire: $542,490 First Quartile, Upper Lachlan Shire: $356,942 Third Quartile, Upper Lachlan Shire: $558,471 Median, Upper Lachlan Shire: $394,300 First Quartile, Upper Lachlan Shire: $289,472
Source: Hometrack 2013-2017, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, New South Wales: $332,524 Median, New South Wales: $241,365 First Quartile, New South Wales: $155,433 Third Quartile, New South Wales: $483,291 Median, New South Wales: $253,767 First Quartile, New South Wales: $127,493 Third Quartile, Upper Lachlan Shire: $461,130 Median, Upper Lachlan Shire: $328,883 First Quartile, Upper Lachlan Shire: $143,346 Third Quartile, Upper Lachlan Shire: $143,078 Median, Upper Lachlan Shire: $97,721 First Quartile, Upper Lachlan Shire: $60,791
Source: Hometrack 2013-2017, Housing Valuation System

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