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, $57,647 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 2013-2017, Housing Valuation System

Housing values
City of Tea Tree Gully20172013Change
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 Adelaide2013 to 2017
House--------------
First Quartile$363,877$351,896+3.4%$320,268$309,101+3.6%+$43,609
Median$401,934$459,581-12.5%$353,084$389,574-9.4%+$48,850
Third Quartile$469,972$601,308-21.8%$404,988$495,817-18.3%+$64,984
Unit--------------
First Quartile$267,622$266,542+0.4%$250,030$248,994+0.4%+$17,592
Median$298,527$327,021-8.7%$260,798$290,471-10.2%+$37,729
Third Quartile$335,255$406,792-17.6%$287,042$347,473-17.4%+$48,213

Source: Hometrack 2011-2016, Housing Valuation System.

Housing values, 2017
Housing values, 2017 Third Quartile, Greater Adelaide: $406,792 Median, Greater Adelaide: $327,021 First Quartile, Greater Adelaide: $266,542 Third Quartile, Greater Adelaide: $601,308 Median, Greater Adelaide: $459,581 First Quartile, Greater Adelaide: $351,896 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, Greater Adelaide: $59,319 Median, Greater Adelaide: $36,550 First Quartile, Greater Adelaide: $17,548 Third Quartile, Greater Adelaide: $105,491 Median, Greater Adelaide: $70,007 First Quartile, Greater Adelaide: $42,795 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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