City of WannerooEconomic profile
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City of Wanneroo

Housing valuation

At June 2018, City of Wanneroo had a median house valuation of $426,568, $38,744 lower 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 Wanneroo20182014Change
Housing value (at June)City of WannerooWestern AustraliaCity of Wanneroo relative to Western AustraliaCity of WannerooWestern AustraliaCity of Wanneroo relative to Western Australia2014 to 2018
House--------------
First Quartile$363,415$354,996+2.4%$418,606$413,814+1.2%-$55,191
Median$426,568$465,312-8.3%$489,373$537,452-8.9%-$62,805
Third Quartile$513,535$636,804-19.4%$574,759$706,574-18.7%-$61,224
Unit--------------
First Quartile$250,688$272,568-8.0%$319,446$334,690-4.6%-$68,758
Median$290,432$352,615-17.6%$362,803$427,041-15.0%-$72,371
Third Quartile$351,272$446,927-21.4%$422,255$540,710-21.9%-$70,983

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 Wanneroo: $351,272 Median, City of Wanneroo: $290,432 First Quartile, City of Wanneroo: $250,688 Third Quartile, City of Wanneroo: $513,535 Median, City of Wanneroo: $426,568 First Quartile, City of Wanneroo: $363,415
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 Wanneroo: $-70,983 Median, City of Wanneroo: $-72,371 First Quartile, City of Wanneroo: $-68,758 Third Quartile, City of Wanneroo: $-61,224 Median, City of Wanneroo: $-62,805 First Quartile, City of Wanneroo: $-55,191
Source: Hometrack 2014-2018, Housing Valuation System

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