Murchison AreaEconomic profile
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King Island Council area

Rental listings

At June 2018, the Murchison Area had a median house rental of $0, $420 lower 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 2014-2018, Automated Valuation System

Rental listings
King Island Council area20182014Change
Housing value (at June)King Island Council areaGreater HobartKing Island Council area relative to Greater HobartKing Island Council areaGreater HobartKing Island Council area relative to Greater Hobart2014 to 2018
House--------------
First Quartile--$350-100.0%--$274-100.0%--
Median--$420-100.0%--$320-100.0%--
Third Quartile--$495-100.0%--$380-100.0%--
Median Rental Yield%4.9%--%5.3%----
Unit--------------
First Quartile--$295-100.0%--$225-100.0%--
Median--$350-100.0%--$270-100.0%--
Third Quartile--$420-100.0%--$315-100.0%--
Median Rental Yield%5.3%--%5.6%----

Source: Hometrack 2014-2018, Automated Valuation System.

Rental listings, 2018
Rental listings, 2018 Third Quartile, Greater Hobart: $420 Median, Greater Hobart: $350 First Quartile, Greater Hobart: $295 Third Quartile, Greater Hobart: $495 Median, Greater Hobart: $420 First Quartile, Greater Hobart: $350
Source: Hometrack 2014-2018, Automated Valuation System
Change in rental listings, 2014 to 2018
Change in rental listings, 2014 to 2018 Third Quartile, Greater Hobart: $105 Median, Greater Hobart: $80 First Quartile, Greater Hobart: $70 Third Quartile, Greater Hobart: $115 Median, Greater Hobart: $100 First Quartile, Greater Hobart: $76
Source: Hometrack 2014-2018, Automated Valuation System

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