City of LauncestonEconomic profile
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City of Launceston

Housing valuation

At June 2016, City of Launceston had a median house valuation of $269,070, $101,031 lower 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 2011-2016, Housing Valuation System

Housing values
City of Launceston20162013Change
Housing value (at June)City of LauncestonGreater HobartCity of Launceston relative to Greater HobartCity of LauncestonGreater HobartCity of Launceston relative to Greater Hobart2013 to 2016
House--------------
First Quartile$216,992$273,172-20.6%$212,399$248,102-14.4%+$4,593
Median$269,070$370,101-27.3%$250,859$327,506-23.4%+$18,211
Third Quartile$341,678$481,398-29.0%$309,281$415,467-25.6%+$32,397
Unit--------------
First Quartile$166,810$224,309-25.6%$169,569$204,410-17.0%-$2,759
Median$213,654$279,434-23.5%$198,018$243,745-18.8%+$15,636
Third Quartile$264,341$349,052-24.3%$238,333$298,780-20.2%+$26,008

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2016
Housing values, 2016 Third Quartile, Greater Hobart: $349,052 Median, Greater Hobart: $279,434 First Quartile, Greater Hobart: $224,309 Third Quartile, Greater Hobart: $481,398 Median, Greater Hobart: $370,101 First Quartile, Greater Hobart: $273,172 Third Quartile, City of Launceston: $264,341 Median, City of Launceston: $213,654 First Quartile, City of Launceston: $166,810 Third Quartile, City of Launceston: $341,678 Median, City of Launceston: $269,070 First Quartile, City of Launceston: $216,992
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2016
Change in housing values, 2013 to 2016 Third Quartile, Greater Hobart: $50,272 Median, Greater Hobart: $35,689 First Quartile, Greater Hobart: $19,899 Third Quartile, Greater Hobart: $65,931 Median, Greater Hobart: $42,595 First Quartile, Greater Hobart: $25,070 Third Quartile, City of Launceston: $26,008 Median, City of Launceston: $15,636 First Quartile, City of Launceston: $-2,759 Third Quartile, City of Launceston: $32,397 Median, City of Launceston: $18,211 First Quartile, City of Launceston: $4,593
Source: Hometrack 2011-2016, Housing Valuation System

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