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Murchison Area

Housing valuation

At June 2018, Murchison Area had a median house valuation of $804,365, $330,721 higher 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 2014-2018, Housing Valuation System

Housing values
Murchison Area20182014Change
Housing value (at June)Murchison AreaGreater HobartMurchison Area relative to Greater HobartMurchison AreaGreater HobartMurchison Area relative to Greater Hobart2014 to 2018
House--------------
First Quartile$623,403$350,650+77.8%$718,526$262,347+173.9%-$95,123
Median$804,365$473,644+69.8%$860,038$347,446+147.5%-$55,673
Third Quartile$1,108,470$636,810+74.1%$1,177,084$440,193+167.4%-$68,614
Unit--------------
First Quartile$398,868$268,188+48.7%$408,709$212,899+92.0%-$9,841
Median$429,670$336,308+27.8%$435,515$258,529+68.5%-$5,845
Third Quartile$473,412$420,954+12.5%$462,298$320,361+44.3%+$11,114

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, Murchison Area: $473,412 Median, Murchison Area: $429,670 First Quartile, Murchison Area: $398,868 Third Quartile, Murchison Area: $1,108,470 Median, Murchison Area: $804,365 First Quartile, Murchison Area: $623,403
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, Murchison Area: $11,114 Median, Murchison Area: $-5,845 First Quartile, Murchison Area: $-9,841 Third Quartile, Murchison Area: $-68,614 Median, Murchison Area: $-55,673 First Quartile, Murchison Area: $-95,123
Source: Hometrack 2014-2018, Housing Valuation System

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