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King Island Council area

Housing valuation

At June 2018, King Island Council area had a median house valuation of $214,049, $259,595 lower 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 2013-2017, Housing Valuation System

Housing values
King Island Council area20182014Change
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 Hobart2014 to 2018
House--------------
First Quartile$151,231$350,650-56.9%$197,292$262,347-24.8%-$46,061
Median$214,049$473,644-54.8%$232,863$347,446-33.0%-$18,814
Third Quartile$327,313$636,810-48.6%$387,538$440,193-12.0%-$60,225
Unit--------------
First Quartile$0$268,188-100.0%$0$212,899-100.0%0
Median$0$336,308-100.0%$0$258,529-100.0%0
Third Quartile$0$420,954-100.0%$0$320,361-100.0%0

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Greater Hobart: $420,954 Median, Greater Hobart: $336,308 First Quartile, Greater Hobart: $268,188 Third Quartile, Greater Hobart: $636,810 Median, Greater Hobart: $473,644 First Quartile, Greater Hobart: $350,650 Third Quartile, King Island Council area: $0 Median, King Island Council area: $0 First Quartile, King Island Council area: $0 Third Quartile, King Island Council area: $327,313 Median, King Island Council area: $214,049 First Quartile, King Island Council area: $151,231
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Greater Hobart: $100,593 Median, Greater Hobart: $77,779 First Quartile, Greater Hobart: $55,289 Third Quartile, Greater Hobart: $196,617 Median, Greater Hobart: $126,198 First Quartile, Greater Hobart: $88,303 Third Quartile, King Island Council area: $0 Median, King Island Council area: $0 First Quartile, King Island Council area: $0 Third Quartile, King Island Council area: $-60,225 Median, King Island Council area: $-18,814 First Quartile, King Island Council area: $-46,061
Source: Hometrack 2014-2018, Housing Valuation System

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