City of WhittleseaEconomic profile
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City of Whittlesea

Housing valuation

At June 2018, City of Whittlesea had a median house valuation of $649,170, $20,891 lower than the median house valuation for Victoria.

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 Whittlesea20182014Change
Housing value (at June)City of WhittleseaVictoriaCity of Whittlesea relative to VictoriaCity of WhittleseaVictoriaCity of Whittlesea relative to Victoria2014 to 2018
House--------------
First Quartile$581,716$461,586+26.0%$370,806$339,363+9.3%+$210,910
Median$649,170$670,061-3.1%$403,730$451,630-10.6%+$245,440
Third Quartile$726,132$1,001,613-27.5%$451,061$675,298-33.2%+$275,071
Unit--------------
First Quartile$388,432$412,486-5.8%$294,992$315,318-6.4%+$93,440
Median$430,888$526,184-18.1%$319,045$423,673-24.7%+$111,843
Third Quartile$476,197$662,536-28.1%$341,639$543,876-37.2%+$134,558

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Victoria: $662,536 Median, Victoria: $526,184 First Quartile, Victoria: $412,486 Third Quartile, Victoria: $1,001,613 Median, Victoria: $670,061 First Quartile, Victoria: $461,586 Third Quartile, City of Whittlesea: $476,197 Median, City of Whittlesea: $430,888 First Quartile, City of Whittlesea: $388,432 Third Quartile, City of Whittlesea: $726,132 Median, City of Whittlesea: $649,170 First Quartile, City of Whittlesea: $581,716
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Victoria: $118,660 Median, Victoria: $102,511 First Quartile, Victoria: $97,168 Third Quartile, Victoria: $326,315 Median, Victoria: $218,431 First Quartile, Victoria: $122,223 Third Quartile, City of Whittlesea: $134,558 Median, City of Whittlesea: $111,843 First Quartile, City of Whittlesea: $93,440 Third Quartile, City of Whittlesea: $275,071 Median, City of Whittlesea: $245,440 First Quartile, City of Whittlesea: $210,910
Source: Hometrack 2014-2018, Housing Valuation System

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