City of Tea Tree GullyEconomic profile
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City of Tea Tree Gully

Housing valuation

At June 2018, City of Tea Tree Gully had a median house valuation of $411,607, $9,897 higher than the median house valuation for South Australia.

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 Tea Tree Gully20182014Change
Housing value (at June)City of Tea Tree GullySouth AustraliaCity of Tea Tree Gully relative to South AustraliaCity of Tea Tree GullySouth AustraliaCity of Tea Tree Gully relative to South Australia2014 to 2018
House--------------
First Quartile$372,651$283,648+31.4%$332,511$262,337+26.7%+$40,140
Median$411,607$401,710+2.5%$364,419$355,667+2.5%+$47,188
Third Quartile$478,532$554,040-13.6%$419,000$469,248-10.7%+$59,532
Unit--------------
First Quartile$268,695$250,328+7.3%$255,838$240,075+6.6%+$12,857
Median$285,941$312,783-8.6%$281,551$290,932-3.2%+$4,390
Third Quartile$331,468$389,177-14.8%$310,391$354,587-12.5%+$21,077

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, South Australia: $389,177 Median, South Australia: $312,783 First Quartile, South Australia: $250,328 Third Quartile, South Australia: $554,040 Median, South Australia: $401,710 First Quartile, South Australia: $283,648 Third Quartile, City of Tea Tree Gully: $331,468 Median, City of Tea Tree Gully: $285,941 First Quartile, City of Tea Tree Gully: $268,695 Third Quartile, City of Tea Tree Gully: $478,532 Median, City of Tea Tree Gully: $411,607 First Quartile, City of Tea Tree Gully: $372,651
Source: Hometrack 2014-2018, Housing Valuation System
Change in housing values, 2014 to 2018
Change in housing values, 2014 to 2018 Third Quartile, South Australia: $34,590 Median, South Australia: $21,851 First Quartile, South Australia: $10,253 Third Quartile, South Australia: $84,792 Median, South Australia: $46,043 First Quartile, South Australia: $21,311 Third Quartile, City of Tea Tree Gully: $21,077 Median, City of Tea Tree Gully: $4,390 First Quartile, City of Tea Tree Gully: $12,857 Third Quartile, City of Tea Tree Gully: $59,532 Median, City of Tea Tree Gully: $47,188 First Quartile, City of Tea Tree Gully: $40,140
Source: Hometrack 2014-2018, Housing Valuation System

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