Cradle Coast RegionEconomic profile
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Waratah-Wynyard Council area

Housing valuation

At June 2016, the Cradle Coast Region had a median house valuation of $243,311, $126,790 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
Waratah-Wynyard Council area20162013Change
Housing value (at June)Waratah-Wynyard Council areaGreater HobartWaratah-Wynyard Council area relative to Greater HobartWaratah-Wynyard Council areaGreater HobartWaratah-Wynyard Council area relative to Greater Hobart2013 to 2016
House--------------
First Quartile$197,793$273,172-27.6%$209,605$248,102-15.5%-$11,812
Median$243,311$370,101-34.3%$250,915$327,506-23.4%-$7,604
Third Quartile$322,151$481,398-33.1%$317,963$415,467-23.5%+$4,188
Unit--------------
First Quartile$194,321$224,309-13.4%$193,259$204,410-5.5%+$1,062
Median$215,330$279,434-22.9%$219,159$243,745-10.1%-$3,829
Third Quartile$246,680$349,052-29.3%$244,272$298,780-18.2%+$2,408

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, Waratah-Wynyard Council area: $246,680 Median, Waratah-Wynyard Council area: $215,330 First Quartile, Waratah-Wynyard Council area: $194,321 Third Quartile, Waratah-Wynyard Council area: $322,151 Median, Waratah-Wynyard Council area: $243,311 First Quartile, Waratah-Wynyard Council area: $197,793
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, Waratah-Wynyard Council area: $2,408 Median, Waratah-Wynyard Council area: $-3,829 First Quartile, Waratah-Wynyard Council area: $1,062 Third Quartile, Waratah-Wynyard Council area: $4,188 Median, Waratah-Wynyard Council area: $-7,604 First Quartile, Waratah-Wynyard Council area: $-11,812
Source: Hometrack 2011-2016, Housing Valuation System

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