Cradle Coast RegionEconomic profile
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King Island Council area

Housing valuation

At June 2016, the Cradle Coast Region had a median house valuation of $220,490, $149,611 lower than the median house valuation for Greater Hobart.

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
King Island Council area20162013Change
Housing value (at June)King Island Council areaGreater HobartKing Island Council area relative to Greater HobartKing Island Council areaGreater HobartKing Island Council area relative to Greater Hobart2013 to 2016
House--------------
First Quartile$165,841$273,172-39.3%$170,764$248,102-31.2%-$4,923
Median$220,490$370,101-40.4%$206,768$327,506-36.9%+$13,722
Third Quartile$337,247$481,398-29.9%$335,076$415,467-19.3%+$2,171
Unit--------------
First Quartile$302,539$224,309+34.9%$0$204,410-100.0%+$302,539
Median$302,539$279,434+8.3%$0$243,745-100.0%+$302,539
Third Quartile$368,360$349,052+5.5%$0$298,780-100.0%+$368,360

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Hobart: $349,052 Median, Greater Hobart: $279,434 First Quartile, Greater Hobart: $224,309 Third Quartile, Greater Hobart: $481,398 Median, Greater Hobart: $370,101 First Quartile, Greater Hobart: $273,172 Third Quartile, King Island Council area: $368,360 Median, King Island Council area: $302,539 First Quartile, King Island Council area: $302,539 Third Quartile, King Island Council area: $337,247 Median, King Island Council area: $220,490 First Quartile, King Island Council area: $165,841
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Greater Hobart: $50,272 Median, Greater Hobart: $35,689 First Quartile, Greater Hobart: $19,899 Third Quartile, Greater Hobart: $65,931 Median, Greater Hobart: $42,595 First Quartile, Greater Hobart: $25,070 Third Quartile, King Island Council area: $368,360 Median, King Island Council area: $302,539 First Quartile, King Island Council area: $302,539 Third Quartile, King Island Council area: $2,171 Median, King Island Council area: $13,722 First Quartile, King Island Council area: $-4,923
Source: Hometrack 2011-2016, Housing Valuation System

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