City of WyndhamEconomic profile
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City of Wyndham

Housing valuation

At June 2018, City of Wyndham had a median house valuation of $565,838, $104,223 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 Wyndham20182014Change
Housing value (at June)City of WyndhamVictoriaCity of Wyndham relative to VictoriaCity of WyndhamVictoriaCity of Wyndham relative to Victoria2014 to 2018
House--------------
First Quartile$493,823$461,586+7.0%$318,546$339,363-6.1%+$175,277
Median$565,838$670,061-15.6%$370,614$451,630-17.9%+$195,224
Third Quartile$663,546$1,001,613-33.8%$452,643$675,298-33.0%+$210,903
Unit--------------
First Quartile$351,765$412,486-14.7%$250,830$315,318-20.5%+$100,935
Median$385,355$526,184-26.8%$280,507$423,673-33.8%+$104,848
Third Quartile$426,797$662,536-35.6%$303,312$543,876-44.2%+$123,485

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 Wyndham: $426,797 Median, City of Wyndham: $385,355 First Quartile, City of Wyndham: $351,765 Third Quartile, City of Wyndham: $663,546 Median, City of Wyndham: $565,838 First Quartile, City of Wyndham: $493,823
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 Wyndham: $123,485 Median, City of Wyndham: $104,848 First Quartile, City of Wyndham: $100,935 Third Quartile, City of Wyndham: $210,903 Median, City of Wyndham: $195,224 First Quartile, City of Wyndham: $175,277
Source: Hometrack 2014-2018, Housing Valuation System

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