Cradle Coast RegionEconomic profile
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Cradle Coast Region

Housing valuation

At June 2018, Cradle Coast Region had a median house valuation of $264,869, $79,568 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 2014-2018, Housing Valuation System

Housing values
Cradle Coast Region20182014Change
Housing value (at June)Cradle Coast RegionTasmaniaCradle Coast Region relative to TasmaniaCradle Coast RegionTasmaniaCradle Coast Region relative to Tasmania2014 to 2018
House--------------
First Quartile$205,530$251,542-18.3%$210,758$228,908-7.9%-$5,228
Median$264,869$344,437-23.1%$259,731$291,516-10.9%+$5,138
Third Quartile$348,466$485,892-28.3%$331,637$381,458-13.1%+$16,829
Unit--------------
First Quartile$191,725$221,526-13.5%$187,765$199,874-6.1%+$3,960
Median$222,179$278,629-20.3%$214,908$231,719-7.3%+$7,271
Third Quartile$258,399$360,836-28.4%$237,470$286,313-17.1%+$20,929

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Tasmania: $360,836 Median, Tasmania: $278,629 First Quartile, Tasmania: $221,526 Third Quartile, Tasmania: $485,892 Median, Tasmania: $344,437 First Quartile, Tasmania: $251,542 Third Quartile, Cradle Coast Region: $258,399 Median, Cradle Coast Region: $222,179 First Quartile, Cradle Coast Region: $191,725 Third Quartile, Cradle Coast Region: $348,466 Median, Cradle Coast Region: $264,869 First Quartile, Cradle Coast Region: $205,530
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Tasmania: $74,523 Median, Tasmania: $46,910 First Quartile, Tasmania: $21,652 Third Quartile, Tasmania: $104,434 Median, Tasmania: $52,921 First Quartile, Tasmania: $22,634 Third Quartile, Cradle Coast Region: $20,929 Median, Cradle Coast Region: $7,271 First Quartile, Cradle Coast Region: $3,960 Third Quartile, Cradle Coast Region: $16,829 Median, Cradle Coast Region: $5,138 First Quartile, Cradle Coast Region: $-5,228
Source: Hometrack 2014-2018, Housing Valuation System

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