Town of Victoria ParkEconomic profile
Skip to content

Town of Victoria Park

Housing valuation

At June 2018, Town of Victoria Park had a median house valuation of $605,336, $140,024 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
Town of Victoria Park20182014Change
Housing value (at June)Town of Victoria ParkWestern AustraliaTown of Victoria Park relative to Western AustraliaTown of Victoria ParkWestern AustraliaTown of Victoria Park relative to Western Australia2014 to 2018
House--------------
First Quartile$530,766$354,996+49.5%$579,226$413,814+40.0%-$48,460
Median$605,336$465,312+30.1%$641,204$537,452+19.3%-$35,868
Third Quartile$686,775$636,804+7.8%$711,306$706,574+0.7%-$24,531
Unit--------------
First Quartile$345,563$272,568+26.8%$384,367$334,690+14.8%-$38,804
Median$409,841$352,615+16.2%$475,426$427,041+11.3%-$65,585
Third Quartile$474,583$446,927+6.2%$541,270$540,710+0.1%-$66,687

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, Town of Victoria Park: $474,583 Median, Town of Victoria Park: $409,841 First Quartile, Town of Victoria Park: $345,563 Third Quartile, Town of Victoria Park: $686,775 Median, Town of Victoria Park: $605,336 First Quartile, Town of Victoria Park: $530,766
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, Town of Victoria Park: $-66,687 Median, Town of Victoria Park: $-65,585 First Quartile, Town of Victoria Park: $-38,804 Third Quartile, Town of Victoria Park: $-24,531 Median, Town of Victoria Park: $-35,868 First Quartile, Town of Victoria Park: $-48,460
Source: Hometrack 2014-2018, Housing Valuation System

To continue building your economic story go to...

v19.10.16-1.0.0