Coastal Urban Economic Region
Housing valuation
At June 2018, Coastal Urban Economic Region had a median house valuation of $1,405,111, $931,467 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Coastal Urban Economic Region | 2018 | 2014 | Change | ||||||
| Housing value (at June) | Coastal Urban Economic Region | Greater Hobart | Coastal Urban Economic Region relative to Greater Hobart | Coastal Urban Economic Region | Greater Hobart | Coastal Urban Economic Region relative to Greater Hobart | 2014 to 2018 | ||
| 0 | House | -- | -- | -- | -- | -- | -- | -- | |
| 1 | First Quartile | $1,137,545 | $350,650 | +224.4% | $1,128,858 | $262,347 | +330.3% | +$8,687 | 88303.0000 |
| 2 | Median | $1,405,111 | $473,644 | +196.7% | $1,352,041 | $347,446 | +289.1% | +$53,070 | 126198.0000 |
| 3 | Third Quartile | $1,789,526 | $636,810 | +181.0% | $1,673,099 | $440,193 | +280.1% | +$116,427 | 196617.0000 |
| 4 | Unit | -- | -- | -- | -- | -- | -- | -- | |
| 5 | First Quartile | $971,865 | $268,188 | +262.4% | $969,320 | $212,899 | +355.3% | +$2,545 | 55289.0000 |
| 6 | Median | $1,121,073 | $336,308 | +233.3% | $1,080,616 | $258,529 | +318.0% | +$40,457 | 77779.0000 |
| 7 | Third Quartile | $1,282,684 | $420,954 | +204.7% | $1,210,012 | $320,361 | +277.7% | +$72,672 | 100593.0000 |
Source: Hometrack (opens a new window) 2014-2018, Housing Valuation System.
