City of LauncestonEconomic profile
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City of Launceston

Housing valuation

At June 2017, City of Launceston had a median house valuation of $281,055, $32,959 lower than the median house valuation for Tasmania.

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 2013-2017, Housing Valuation System

Housing values
City of Launceston20172014Change
Housing value (at June)City of LauncestonTasmaniaCity of Launceston relative to TasmaniaCity of LauncestonTasmaniaCity of Launceston relative to Tasmania2014 to 2017
House--------------
First Quartile$226,735$232,515-2.5%$222,160$228,908-2.9%+$4,575
Median$281,055$314,014-10.5%$265,859$291,516-8.8%+$15,196
Third Quartile$359,829$431,584-16.6%$328,004$381,458-14.0%+$31,825
Unit--------------
First Quartile$168,175$206,122-18.4%$179,902$199,874-10.0%-$11,727
Median$215,808$255,066-15.4%$210,396$231,719-9.2%+$5,412
Third Quartile$277,508$328,800-15.6%$261,911$286,313-8.5%+$15,597

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Tasmania: $328,800 Median, Tasmania: $255,066 First Quartile, Tasmania: $206,122 Third Quartile, Tasmania: $431,584 Median, Tasmania: $314,014 First Quartile, Tasmania: $232,515 Third Quartile, City of Launceston: $277,508 Median, City of Launceston: $215,808 First Quartile, City of Launceston: $168,175 Third Quartile, City of Launceston: $359,829 Median, City of Launceston: $281,055 First Quartile, City of Launceston: $226,735
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2014 to 2017
Change in housing values, 2014 to 2017 Third Quartile, Tasmania: $42,487 Median, Tasmania: $23,347 First Quartile, Tasmania: $6,248 Third Quartile, Tasmania: $50,126 Median, Tasmania: $22,498 First Quartile, Tasmania: $3,607 Third Quartile, City of Launceston: $15,597 Median, City of Launceston: $5,412 First Quartile, City of Launceston: $-11,727 Third Quartile, City of Launceston: $31,825 Median, City of Launceston: $15,196 First Quartile, City of Launceston: $4,575
Source: Hometrack 2011-2016, Housing Valuation System

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