Cradle Coast RegionEconomic profile
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King Island Council area

Rental listings

At June 2016, the Cradle Coast Region had a median house rental of $400, $50 higher than the median house rental for Greater Hobart.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2011-2016, Automated Valuation System

Rental listings
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$400$295+35.6%--$270-100.0%--
Median$400$350+14.3%--$320-100.0%--
Third Quartile$410$420-2.4%--$380-100.0%--
Median Rental Yield5.2%5.5%--%5.6%----
Unit--------------
First Quartile$365$240+52.1%--$220-100.0%--
Median$380$280+35.7%--$260-100.0%--
Third Quartile$395$330+19.7%--$300-100.0%--
Median Rental Yield6.3%5.6%--%5.8%----

Source: Hometrack 2011-2016, Automated Valuation System.

Rental listings, 2016
Rental listings, 2016 Third Quartile, Greater Hobart: $330 Median, Greater Hobart: $280 First Quartile, Greater Hobart: $240 Third Quartile, Greater Hobart: $420 Median, Greater Hobart: $350 First Quartile, Greater Hobart: $295 Third Quartile, King Island Council area: $395 Median, King Island Council area: $380 First Quartile, King Island Council area: $365 Third Quartile, King Island Council area: $410 Median, King Island Council area: $400 First Quartile, King Island Council area: $400
Source: Hometrack 2011-2016, Automated Valuation System
Change in rental listings, 2013 to 2016
Change in rental listings, 2013 to 2016 Third Quartile, Greater Hobart: $30 Median, Greater Hobart: $20 First Quartile, Greater Hobart: $20 Third Quartile, Greater Hobart: $40 Median, Greater Hobart: $30 First Quartile, Greater Hobart: $25
Source: Hometrack 2011-2016, Automated Valuation System

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