City of Tea Tree GullyEconomic profile
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City of Tea Tree Gully

Housing valuation

At June 2017, City of Tea Tree Gully had a median house valuation of $401,934, $7,500 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 Gully20172013Change
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 Australia2013 to 2017
House--------------
First Quartile$363,877$281,505+29.3%$320,268$254,242+26.0%+$43,609
Median$401,934$394,434+1.9%$353,084$341,851+3.3%+$48,850
Third Quartile$469,972$542,110-13.3%$404,988$450,018-10.0%+$64,984
Unit--------------
First Quartile$267,622$255,268+4.8%$250,030$233,647+7.0%+$17,592
Median$298,527$319,714-6.6%$260,798$281,656-7.4%+$37,729
Third Quartile$335,255$406,581-17.5%$287,042$341,507-15.9%+$48,213

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, South Australia: $406,581 Median, South Australia: $319,714 First Quartile, South Australia: $255,268 Third Quartile, South Australia: $542,110 Median, South Australia: $394,434 First Quartile, South Australia: $281,505 Third Quartile, City of Tea Tree Gully: $335,255 Median, City of Tea Tree Gully: $298,527 First Quartile, City of Tea Tree Gully: $267,622 Third Quartile, City of Tea Tree Gully: $469,972 Median, City of Tea Tree Gully: $401,934 First Quartile, City of Tea Tree Gully: $363,877
Source: Hometrack 2011-2016, Housing Valuation System
Change in housing values, 2013 to 2017
Change in housing values, 2013 to 2017 Third Quartile, South Australia: $65,074 Median, South Australia: $38,058 First Quartile, South Australia: $21,621 Third Quartile, South Australia: $92,092 Median, South Australia: $52,583 First Quartile, South Australia: $27,263 Third Quartile, City of Tea Tree Gully: $48,213 Median, City of Tea Tree Gully: $37,729 First Quartile, City of Tea Tree Gully: $17,592 Third Quartile, City of Tea Tree Gully: $64,984 Median, City of Tea Tree Gully: $48,850 First Quartile, City of Tea Tree Gully: $43,609
Source: Hometrack 2011-2016, Housing Valuation System

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