Murchison AreaEconomic profile
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Murchison Area

Rental listings

At June 2018, the Murchison Area had a median house rental of $250, $90 lower than the median house rental for Tasmania.

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
Murchison Area20182014Change
Housing value (at June)Murchison AreaTasmaniaMurchison Area relative to TasmaniaMurchison AreaTasmaniaMurchison Area relative to Tasmania2014 to 2018
House--------------
First Quartile$180$270-33.3%$170$235-27.7%+$10
Median$250$340-26.5%$220$280-21.4%+$30
Third Quartile$280$420-33.3%$255$350-27.1%+$25
Median Rental Yield6.9%5.3%--6.0%5.5%----
Unit--------------
First Quartile$175$225-22.2%$163$200-18.5%+$12
Median$220$295-25.4%$185$250-26.0%+$35
Third Quartile$250$370-32.4%$230$300-23.3%+$20
Median Rental Yield5.6%5.5%--5.5%5.7%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, Tasmania: $370 Median, Tasmania: $295 First Quartile, Tasmania: $225 Third Quartile, Tasmania: $420 Median, Tasmania: $340 First Quartile, Tasmania: $270 Third Quartile, Murchison Area: $250 Median, Murchison Area: $220 First Quartile, Murchison Area: $175 Third Quartile, Murchison Area: $280 Median, Murchison Area: $250 First Quartile, Murchison Area: $180
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, Tasmania: $70 Median, Tasmania: $45 First Quartile, Tasmania: $25 Third Quartile, Tasmania: $70 Median, Tasmania: $60 First Quartile, Tasmania: $35 Third Quartile, Murchison Area: $20 Median, Murchison Area: $35 First Quartile, Murchison Area: $12 Third Quartile, Murchison Area: $25 Median, Murchison Area: $30 First Quartile, Murchison Area: $10
Source: Hometrack 2014-2018, Automated Valuation System

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