City of Tea Tree GullyEconomic profile
Skip to content

City of Tea Tree Gully

Housing valuation

At June 2016, the City of Tea Tree Gully had a median house valuation of $391,315, $48,188 lower than the median house valuation for Greater Adelaide.

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
City of Tea Tree Gully20162013Change
Housing value (at June)City of Tea Tree GullyGreater AdelaideCity of Tea Tree Gully relative to Greater AdelaideCity of Tea Tree GullyGreater AdelaideCity of Tea Tree Gully relative to Greater Adelaide2013 to 2016
House--------------
First Quartile$349,316$337,186+3.6%$320,268$309,101+3.6%+$29,048
Median$391,315$439,503-11.0%$353,084$389,574-9.4%+$38,231
Third Quartile$465,102$575,202-19.1%$404,988$495,817-18.3%+$60,114
Unit--------------
First Quartile$257,289$262,726-2.1%$250,030$248,994+0.4%+$7,259
Median$280,138$319,826-12.4%$260,798$290,471-10.2%+$19,340
Third Quartile$315,155$395,327-20.3%$287,042$347,473-17.4%+$28,113

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Adelaide: $395,327 Median, Greater Adelaide: $319,826 First Quartile, Greater Adelaide: $262,726 Third Quartile, Greater Adelaide: $575,202 Median, Greater Adelaide: $439,503 First Quartile, Greater Adelaide: $337,186 Third Quartile, City of Tea Tree Gully: $315,155 Median, City of Tea Tree Gully: $280,138 First Quartile, City of Tea Tree Gully: $257,289 Third Quartile, City of Tea Tree Gully: $465,102 Median, City of Tea Tree Gully: $391,315 First Quartile, City of Tea Tree Gully: $349,316
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Greater Adelaide: $47,854 Median, Greater Adelaide: $29,355 First Quartile, Greater Adelaide: $13,732 Third Quartile, Greater Adelaide: $79,385 Median, Greater Adelaide: $49,929 First Quartile, Greater Adelaide: $28,085 Third Quartile, City of Tea Tree Gully: $28,113 Median, City of Tea Tree Gully: $19,340 First Quartile, City of Tea Tree Gully: $7,259 Third Quartile, City of Tea Tree Gully: $60,114 Median, City of Tea Tree Gully: $38,231 First Quartile, City of Tea Tree Gully: $29,048
Source: Hometrack 2011-2016, Housing Valuation System

To continue building your economic story go to...

v17.10.06-1.0.0