Murchison AreaEconomic profile
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Murchison Area

Housing valuation

At June 2018, Murchison Area had a median house valuation of $224,544, $119,893 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 2014-2018, Housing Valuation System

Housing values
Murchison Area20182014Change
Housing value (at June)Murchison AreaTasmaniaMurchison Area relative to TasmaniaMurchison AreaTasmaniaMurchison Area relative to Tasmania2014 to 2018
House--------------
First Quartile$139,353$251,542-44.6%$171,042$228,908-25.3%-$31,689
Median$224,544$344,437-34.8%$235,244$291,516-19.3%-$10,700
Third Quartile$315,161$485,892-35.1%$308,615$381,458-19.1%+$6,546
Unit--------------
First Quartile$196,664$221,526-11.2%$203,677$199,874+1.9%-$7,013
Median$220,692$278,629-20.8%$219,316$231,719-5.4%+$1,376
Third Quartile$255,229$360,836-29.3%$241,457$286,313-15.7%+$13,772

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Tasmania: $360,836 Median, Tasmania: $278,629 First Quartile, Tasmania: $221,526 Third Quartile, Tasmania: $485,892 Median, Tasmania: $344,437 First Quartile, Tasmania: $251,542 Third Quartile, Murchison Area: $255,229 Median, Murchison Area: $220,692 First Quartile, Murchison Area: $196,664 Third Quartile, Murchison Area: $315,161 Median, Murchison Area: $224,544 First Quartile, Murchison Area: $139,353
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, Tasmania: $74,523 Median, Tasmania: $46,910 First Quartile, Tasmania: $21,652 Third Quartile, Tasmania: $104,434 Median, Tasmania: $52,921 First Quartile, Tasmania: $22,634 Third Quartile, Murchison Area: $13,772 Median, Murchison Area: $1,376 First Quartile, Murchison Area: $-7,013 Third Quartile, Murchison Area: $6,546 Median, Murchison Area: $-10,700 First Quartile, Murchison Area: $-31,689
Source: Hometrack 2014-2018, Housing Valuation System

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