Cradle Coast RegionEconomic profile
Skip to content

Murchison - Burnie Economic Region

Housing valuation

At June 2018, Murchison - Burnie Economic Region had a median house valuation of $1,041,778, $568,134 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 - Burnie Economic Region20182014Change
Housing value (at June)Murchison - Burnie Economic RegionGreater HobartMurchison - Burnie Economic Region relative to Greater HobartMurchison - Burnie Economic RegionGreater HobartMurchison - Burnie Economic Region relative to Greater Hobart2014 to 2018
House--------------
First Quartile$807,004$350,650+130.1%$902,432$262,347+244.0%-$95,428
Median$1,041,778$473,644+119.9%$1,089,228$347,446+213.5%-$47,450
Third Quartile$1,415,285$636,810+122.2%$1,471,191$440,193+234.2%-$55,906
Unit--------------
First Quartile$544,737$268,188+103.1%$553,500$212,899+160.0%-$8,763
Median$617,854$336,308+83.7%$606,653$258,529+134.7%+$11,201
Third Quartile$696,989$420,954+65.6%$675,467$320,361+110.8%+$21,522

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 - Burnie Economic Region: $696,989 Median, Murchison - Burnie Economic Region: $617,854 First Quartile, Murchison - Burnie Economic Region: $544,737 Third Quartile, Murchison - Burnie Economic Region: $1,415,285 Median, Murchison - Burnie Economic Region: $1,041,778 First Quartile, Murchison - Burnie Economic Region: $807,004
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 - Burnie Economic Region: $21,522 Median, Murchison - Burnie Economic Region: $11,201 First Quartile, Murchison - Burnie Economic Region: $-8,763 Third Quartile, Murchison - Burnie Economic Region: $-55,906 Median, Murchison - Burnie Economic Region: $-47,450 First Quartile, Murchison - Burnie Economic Region: $-95,428
Source: Hometrack 2014-2018, Housing Valuation System

To continue building your economic story go to...

v20.2.24-1.0.0