Cradle Coast RegionEconomic profile
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Murchison - Burnie Economic Region

Rental listings

At June 2017, the Cradle Coast Region had a median house rental of $1,208, $838 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 2013-2017, Automated Valuation System

Rental listings
Murchison - Burnie Economic Region20172014Change
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 2017
House--------------
First Quartile$1,084$315+244.1%$770$274+181.0%+$314
Median$1,208$370+226.5%$880$320+175.0%+$328
Third Quartile$1,415$450+214.4%$1,000$380+163.2%+$415
Median Rental Yield35.9%5.1%--27.0%5.3%----
Unit--------------
First Quartile$687$250+174.8%$647$225+187.6%+$40
Median$771$300+157.0%$710$270+163.0%+$61
Third Quartile$889$380+133.9%$796$315+152.7%+$93
Median Rental Yield17.4%5.3%--17.2%5.6%----

Source: Hometrack 2014-2017, Automated Valuation System.

Rental listings, 2017
Rental listings, 2017 Third Quartile, Greater Hobart: $380 Median, Greater Hobart: $300 First Quartile, Greater Hobart: $250 Third Quartile, Greater Hobart: $450 Median, Greater Hobart: $370 First Quartile, Greater Hobart: $315 Third Quartile, Murchison - Burnie Economic Region: $889 Median, Murchison - Burnie Economic Region: $771 First Quartile, Murchison - Burnie Economic Region: $687 Third Quartile, Murchison - Burnie Economic Region: $1,415 Median, Murchison - Burnie Economic Region: $1,208 First Quartile, Murchison - Burnie Economic Region: $1,084
Source: Hometrack 2014-2017, Automated Valuation System
Change in rental listings, 2014 to 2017
Change in rental listings, 2014 to 2017 Third Quartile, Greater Hobart: $65 Median, Greater Hobart: $30 First Quartile, Greater Hobart: $25 Third Quartile, Greater Hobart: $70 Median, Greater Hobart: $50 First Quartile, Greater Hobart: $41 Third Quartile, Murchison - Burnie Economic Region: $93 Median, Murchison - Burnie Economic Region: $61 First Quartile, Murchison - Burnie Economic Region: $40 Third Quartile, Murchison - Burnie Economic Region: $415 Median, Murchison - Burnie Economic Region: $328 First Quartile, Murchison - Burnie Economic Region: $314
Source: Hometrack 2014-2017, Automated Valuation System

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