Cradle Coast RegionEconomic profile
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Murchison Area

Housing valuation

At June 2016, the Cradle Coast Region had a median house valuation of $759,606, $389,505 higher 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
Murchison Area20162013Change
Housing value (at June)Murchison AreaGreater HobartMurchison Area relative to Greater HobartMurchison AreaGreater HobartMurchison Area relative to Greater Hobart2013 to 2016
House--------------
First Quartile$596,048$273,172+118.2%$657,378$248,102+165.0%-$61,330
Median$759,606$370,101+105.2%$792,371$327,506+141.9%-$32,765
Third Quartile$1,037,013$481,398+115.4%$1,064,196$415,467+156.1%-$27,183
Unit--------------
First Quartile$1,032,808$224,309+360.4%$382,718$204,410+87.2%+$650,090
Median$1,086,177$279,434+288.7%$417,301$243,745+71.2%+$668,876
Third Quartile$1,248,146$349,052+257.6%$453,938$298,780+51.9%+$794,208

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, Murchison Area: $1,248,146 Median, Murchison Area: $1,086,177 First Quartile, Murchison Area: $1,032,808 Third Quartile, Murchison Area: $1,037,013 Median, Murchison Area: $759,606 First Quartile, Murchison Area: $596,048
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, Murchison Area: $794,208 Median, Murchison Area: $668,876 First Quartile, Murchison Area: $650,090 Third Quartile, Murchison Area: $-27,183 Median, Murchison Area: $-32,765 First Quartile, Murchison Area: $-61,330
Source: Hometrack 2011-2016, Housing Valuation System

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