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King Island Council area

Housing valuation

At June 2017, King Island Council area had a median house valuation of $229,811, $173,632 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 area20172013Change
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 2017
House--------------
First Quartile$162,813$298,758-45.5%$170,764$248,102-31.2%-$7,951
Median$229,811$403,443-43.0%$206,768$327,506-36.9%+$23,043
Third Quartile$350,359$537,847-34.9%$335,076$415,467-19.3%+$15,283
Unit--------------
First Quartile$360,015$238,376+51.0%$0$204,410-100.0%+$360,015
Median$360,015$300,437+19.8%$0$243,745-100.0%+$360,015
Third Quartile$433,958$379,024+14.5%$0$298,780-100.0%+$433,958

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Greater Hobart: $379,024 Median, Greater Hobart: $300,437 First Quartile, Greater Hobart: $238,376 Third Quartile, Greater Hobart: $537,847 Median, Greater Hobart: $403,443 First Quartile, Greater Hobart: $298,758 Third Quartile, King Island Council area: $433,958 Median, King Island Council area: $360,015 First Quartile, King Island Council area: $360,015 Third Quartile, King Island Council area: $350,359 Median, King Island Council area: $229,811 First Quartile, King Island Council area: $162,813
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, Greater Hobart: $80,244 Median, Greater Hobart: $56,692 First Quartile, Greater Hobart: $33,966 Third Quartile, Greater Hobart: $122,380 Median, Greater Hobart: $75,937 First Quartile, Greater Hobart: $50,656 Third Quartile, King Island Council area: $433,958 Median, King Island Council area: $360,015 First Quartile, King Island Council area: $360,015 Third Quartile, King Island Council area: $15,283 Median, King Island Council area: $23,043 First Quartile, King Island Council area: $-7,951
Source: Hometrack 2011-2016, Housing Valuation System

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