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, $57,492 lower than the median house valuation for Greater Adelaide.

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
City of Tea Tree Gully20182014Change
Housing value (at June)City of Tea Tree GullyGreater AdelaideCity of Tea Tree Gully relative to Greater AdelaideCity of Tea Tree GullyGreater AdelaideCity of Tea Tree Gully relative to Greater Adelaide2014 to 2018
House--------------
First Quartile$372,651$358,455+4.0%$332,511$322,727+3.0%+$40,140
Median$411,607$469,099-12.3%$364,419$407,805-10.6%+$47,188
Third Quartile$478,532$616,181-22.3%$419,000$519,845-19.4%+$59,532
Unit--------------
First Quartile$268,695$266,048+1.0%$255,838$253,342+1.0%+$12,857
Median$285,941$324,720-11.9%$281,551$299,766-6.1%+$4,390
Third Quartile$331,468$398,882-16.9%$310,391$362,519-14.4%+$21,077

Source: Hometrack 2014-2018, Housing Valuation System.

Housing values, 2018
Housing values, 2018 Third Quartile, Greater Adelaide: $398,882 Median, Greater Adelaide: $324,720 First Quartile, Greater Adelaide: $266,048 Third Quartile, Greater Adelaide: $616,181 Median, Greater Adelaide: $469,099 First Quartile, Greater Adelaide: $358,455 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, Greater Adelaide: $36,363 Median, Greater Adelaide: $24,954 First Quartile, Greater Adelaide: $12,706 Third Quartile, Greater Adelaide: $96,336 Median, Greater Adelaide: $61,294 First Quartile, Greater Adelaide: $35,728 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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