Willoughby City CouncilEconomic profile
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Willoughby City

Housing valuation

At June 2018, Willoughby City had a median house valuation of $2,394,368, $1,653,924 higher 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 2014-2018, Housing Valuation System

Housing values
Willoughby City20182014Change
Housing value (at June)Willoughby CityNew South WalesWilloughby City relative to New South WalesWilloughby CityNew South WalesWilloughby City relative to New South Wales2014 to 2018
House--------------
First Quartile$2,061,181$498,085+313.8%$1,319,748$361,802+264.8%+$741,433
Median$2,394,368$740,444+223.4%$1,501,121$508,933+195.0%+$893,247
Third Quartile$2,800,198$1,171,986+138.9%$1,769,996$799,290+121.4%+$1,030,202
Unit--------------
First Quartile$879,756$485,261+81.3%$641,804$343,269+87.0%+$237,952
Median$994,074$676,368+47.0%$707,829$496,521+42.6%+$286,245
Third Quartile$1,127,144$890,202+26.6%$776,764$659,154+17.8%+$350,380

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, Willoughby City: $1,127,144 Median, Willoughby City: $994,074 First Quartile, Willoughby City: $879,756 Third Quartile, Willoughby City: $2,800,198 Median, Willoughby City: $2,394,368 First Quartile, Willoughby City: $2,061,181
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, Willoughby City: $350,380 Median, Willoughby City: $286,245 First Quartile, Willoughby City: $237,952 Third Quartile, Willoughby City: $1,030,202 Median, Willoughby City: $893,247 First Quartile, Willoughby City: $741,433
Source: Hometrack 2014-2018, Housing Valuation System

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