Greater Burnie Economic Region
Rental listings
At June 2018, the Cradle Coast Region had a median house rental of $845, $425 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 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| Greater Burnie Economic Region | 2018 | 2014 | Change | ||||||
| Housing value (at June) | Greater Burnie Economic Region | Greater Hobart | Greater Burnie Economic Region relative to Greater Hobart | Greater Burnie Economic Region | Greater Hobart | Greater Burnie Economic Region relative to Greater Hobart | 2014 to 2018 | ||
| 0 | House | -- | -- | -- | -- | -- | -- | -- | |
| 1 | First Quartile | $765 | $350 | +118.6% | $680 | $274 | +148.2% | +$85 | 76.0000 |
| 2 | Median | $845 | $420 | +101.2% | $760 | $320 | +137.5% | +$85 | 100.0000 |
| 3 | Third Quartile | $940 | $495 | +89.9% | $870 | $380 | +128.9% | +$70 | 115.0000 |
| 4 | Median Rental Yield | 18.2% | 4.9% | -- | 17.3% | 5.3% | -- | -- | |
| 5 | Unit | -- | -- | -- | -- | -- | -- | -- | |
| 6 | First Quartile | $555 | $295 | +88.1% | $524 | $225 | +132.9% | +$31 | 70.0000 |
| 7 | Median | $661 | $350 | +88.9% | $600 | $270 | +122.2% | +$61 | 80.0000 |
| 8 | Third Quartile | $788 | $420 | +87.6% | $716 | $315 | +127.3% | +$72 | 105.0000 |
| 9 | Median Rental Yield | 17.4% | 5.3% | -- | 18.1% | 5.6% | -- | -- | |
Source: Hometrack (opens a new window) 2014-2018, Automated Valuation System.
