Cradle Coast RegionEconomic profile
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Cradle Coast Region

Housing valuation

At June 2017, Cradle Coast Region had a median house valuation of $252,426, $61,588 lower than the median house valuation for Tasmania.

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 2013-2017, Housing Valuation System

Housing values
Cradle Coast Region20172013Change
Housing value (at June)Cradle Coast RegionTasmaniaCradle Coast Region relative to TasmaniaCradle Coast RegionTasmaniaCradle Coast Region relative to Tasmania2013 to 2017
House--------------
First Quartile$197,249$232,515-15.2%$200,424$217,297-7.8%-$3,175
Median$252,426$314,014-19.6%$248,795$276,463-10.0%+$3,631
Third Quartile$333,133$431,584-22.8%$315,657$360,421-12.4%+$17,476
Unit--------------
First Quartile$178,511$206,122-13.4%$178,003$188,648-5.6%+$508
Median$213,501$255,066-16.3%$201,040$220,481-8.8%+$12,461
Third Quartile$241,054$328,800-26.7%$226,287$269,226-15.9%+$14,767

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Tasmania: $328,800 Median, Tasmania: $255,066 First Quartile, Tasmania: $206,122 Third Quartile, Tasmania: $431,584 Median, Tasmania: $314,014 First Quartile, Tasmania: $232,515 Third Quartile, Cradle Coast Region: $241,054 Median, Cradle Coast Region: $213,501 First Quartile, Cradle Coast Region: $178,511 Third Quartile, Cradle Coast Region: $333,133 Median, Cradle Coast Region: $252,426 First Quartile, Cradle Coast Region: $197,249
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Tasmania: $59,574 Median, Tasmania: $34,585 First Quartile, Tasmania: $17,474 Third Quartile, Tasmania: $71,163 Median, Tasmania: $37,551 First Quartile, Tasmania: $15,218 Third Quartile, Cradle Coast Region: $14,767 Median, Cradle Coast Region: $12,461 First Quartile, Cradle Coast Region: $508 Third Quartile, Cradle Coast Region: $17,476 Median, Cradle Coast Region: $3,631 First Quartile, Cradle Coast Region: $-3,175
Source: Hometrack 2011-2016, Housing Valuation System

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