Cradle Coast RegionEconomic profile
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Cradle Coast Region

Housing valuation

At June 2016, the Cradle Coast Region had a median house valuation of $241,455, $54,543 lower than the median house valuation for Tasmania.

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 2011-2016, Housing Valuation System

Housing values
Cradle Coast Region20162013Change
Housing value (at June)Cradle Coast RegionTasmaniaCradle Coast Region relative to TasmaniaCradle Coast RegionTasmaniaCradle Coast Region relative to Tasmania2013 to 2016
House--------------
First Quartile$188,820$221,013-14.6%$200,399$217,297-7.8%-$11,579
Median$241,455$295,998-18.4%$248,878$276,463-10.0%-$7,423
Third Quartile$320,991$403,231-20.4%$315,872$360,421-12.4%+$5,119
Unit--------------
First Quartile$176,362$200,000-11.8%$178,573$188,648-5.3%-$2,211
Median$205,148$241,363-15.0%$201,880$220,481-8.4%+$3,268
Third Quartile$236,765$310,762-23.8%$226,090$269,226-16.0%+$10,675

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Tasmania: $310,762 Median, Tasmania: $241,363 First Quartile, Tasmania: $200,000 Third Quartile, Tasmania: $403,231 Median, Tasmania: $295,998 First Quartile, Tasmania: $221,013 Third Quartile, Cradle Coast Region: $236,765 Median, Cradle Coast Region: $205,148 First Quartile, Cradle Coast Region: $176,362 Third Quartile, Cradle Coast Region: $320,991 Median, Cradle Coast Region: $241,455 First Quartile, Cradle Coast Region: $188,820
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Tasmania: $41,536 Median, Tasmania: $20,882 First Quartile, Tasmania: $11,352 Third Quartile, Tasmania: $42,810 Median, Tasmania: $19,535 First Quartile, Tasmania: $3,716 Third Quartile, Cradle Coast Region: $10,675 Median, Cradle Coast Region: $3,268 First Quartile, Cradle Coast Region: $-2,211 Third Quartile, Cradle Coast Region: $5,119 Median, Cradle Coast Region: $-7,423 First Quartile, Cradle Coast Region: $-11,579
Source: Hometrack 2011-2016, Housing Valuation System

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