City of WyndhamEconomic profile
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City of Wyndham

Housing valuation

At June 2017, City of Wyndham had a median house valuation of $492,144, $112,536 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 2013-2017, Housing Valuation System

Housing values
City of Wyndham20172013Change
Housing value (at June)City of WyndhamVictoriaCity of Wyndham relative to VictoriaCity of WyndhamVictoriaCity of Wyndham relative to Victoria2013 to 2017
House--------------
First Quartile$424,418$402,814+5.4%$303,521$322,519-5.9%+$120,897
Median$492,144$604,680-18.6%$349,979$424,044-17.5%+$142,165
Third Quartile$586,839$956,823-38.7%$422,848$614,822-31.2%+$163,991
Unit--------------
First Quartile$303,044$368,310-17.7%$243,222$294,921-17.5%+$59,822
Median$334,512$496,468-32.6%$272,395$386,032-29.4%+$62,117
Third Quartile$374,111$630,858-40.7%$295,494$493,165-40.1%+$78,617

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Victoria: $630,858 Median, Victoria: $496,468 First Quartile, Victoria: $368,310 Third Quartile, Victoria: $956,823 Median, Victoria: $604,680 First Quartile, Victoria: $402,814 Third Quartile, City of Wyndham: $374,111 Median, City of Wyndham: $334,512 First Quartile, City of Wyndham: $303,044 Third Quartile, City of Wyndham: $586,839 Median, City of Wyndham: $492,144 First Quartile, City of Wyndham: $424,418
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Victoria: $137,693 Median, Victoria: $110,436 First Quartile, Victoria: $73,389 Third Quartile, Victoria: $342,001 Median, Victoria: $180,636 First Quartile, Victoria: $80,295 Third Quartile, City of Wyndham: $78,617 Median, City of Wyndham: $62,117 First Quartile, City of Wyndham: $59,822 Third Quartile, City of Wyndham: $163,991 Median, City of Wyndham: $142,165 First Quartile, City of Wyndham: $120,897
Source: Hometrack 2011-2016, Housing Valuation System

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