Cradle Coast RegionEconomic profile
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Murchison Area

Rental listings

At June 2018, the Cradle Coast Region had a median house rental of $690, $270 higher than the median house rental for Greater Hobart.

Housing valuation and rental data are a measure of the economic desirability of living in the local area. High and increasing rents are an indication of a strong economy and a desirable area, with access to jobs and services. Units are more commonly rented than houses, and renters tend to be younger than home owners on average. People may rent to be close to employment, entertainment and services, or they may rent while saving to buy a home.

Housing prices often factor in a home ownership premium, but rental costs are a more direct measure of the time-value of living in the area. Increases in rents often have a more direct relationship to employment and demand for housing.

Hometrack 2014-2018, Automated Valuation System

Rental listings
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$610$350+74.3%$560$274+104.4%+$50
Median$690$420+64.3%$640$320+100.0%+$50
Third Quartile$760$495+53.5%$720$380+89.5%+$40
Median Rental Yield22.2%4.9%--20.7%5.3%----
Unit--------------
First Quartile$494$295+67.5%$488$225+116.9%+$6
Median$564$350+61.1%$520$270+92.6%+$44
Third Quartile$647$420+54.0%$566$315+79.7%+$81
Median Rental Yield10.9%5.3%--10.5%5.6%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, Greater Hobart: $420 Median, Greater Hobart: $350 First Quartile, Greater Hobart: $295 Third Quartile, Greater Hobart: $495 Median, Greater Hobart: $420 First Quartile, Greater Hobart: $350 Third Quartile, Murchison Area: $647 Median, Murchison Area: $564 First Quartile, Murchison Area: $494 Third Quartile, Murchison Area: $760 Median, Murchison Area: $690 First Quartile, Murchison Area: $610
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, Greater Hobart: $105 Median, Greater Hobart: $80 First Quartile, Greater Hobart: $70 Third Quartile, Greater Hobart: $115 Median, Greater Hobart: $100 First Quartile, Greater Hobart: $76 Third Quartile, Murchison Area: $81 Median, Murchison Area: $44 First Quartile, Murchison Area: $6 Third Quartile, Murchison Area: $40 Median, Murchison Area: $50 First Quartile, Murchison Area: $50
Source: Hometrack 2014-2018, Automated Valuation System

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