Suburb Profile Report for Montrose TAS (7010)

Montrose House: Median price $404,000, Annual capital growth 4.55%, Number of sales 28, Weekly median advertised rent $420

Montrose Unit: Median price $280,500, Annual capital growth 4.50%, Number of sales 13, Weekly median advertised rent $300

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

Montrose has had a pretty good year for property investment returns compared to the rest of TAS, giving investors a capital gain of 12.69% to date .

Over the longer term, Montrose has seen property prices show investors a 33.33% return over the last 3 years. This is worse than over the last 12 months

A $420 per week rent on the median house gives suburb investors a gross yield of circa 5.41%, without taking into account capital value appreciation, which has been averaging out at 4.55%.

At number 250th in the list of Australian suburbs ordered by increase in median house value over the last year, Montrose, 7010 is in the top 20% with a property value increase of 7.47% recorded in median house prices.

Over the longer term, Montrose has seen property prices show investors a 32.94% return over the last 3 years. This is worse than over the last 12 months

Information supplied by:


September 2017

M
O

W
E

Apartments on a downward slope

Postcode: 7010

Median unit price: $215,000

Three-year growth: 0.5%

Rental yield: 6.0%

While many experts say that areas near Hobart are the best investments, the suburb of Montrose shows that this may not always be the case.

Despite its extremely low prices, the suburb has been recording more negative than positive growth, with a 3.2% drop over the 12 months leading up to July 2017, despite being just 11km from Hobart. The June 2017 quarter findings suggest that this trend is still going, as values continued to fall by 2.3%.

Nonetheless, Real Estate Investar data indicate that vacancies are very tight in this suburb at just 0.22%. Being located just north of Glenorchy is likely an advantage, since the CBD comes within walking distance. Amenities such as sports facilities and entertainment venues are close by, as are schools like Cosgrove High School and Guilford Young College.

Metrics i HOUSE UNIT
$404,000 $280,500
-1.46% -15.00%
12.69% 7.47%
4.55% 4.50%
$420 $300
28 13
5.41% 5.56%
35.4285714285714 N/A

Source: Monthly data update for Nov 2019 as supplied by CoreLogic. Data is reported to the period ending Aug 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Excellent (H), Good (U)
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Demographics
Total population 2002
Median household income ($/weekly) 847
Median age of persons 45
Median housing loan repayment ($/monthly) 1300
Average household size 2.2
  • Census Count Percent(%)
    25-34 years 213 10.6
    35-44 years 222 11.1
    45-54 years 299 14.9
    55-64 years 257 12.8
    65-74 years 233 11.6
    Others 777 38.8
    Age Group
    Census Count Percent(%)
    Not Married 722 46.1
    Registered Married 689 44.0
    Defacto Relationship 154 9.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 1693 88.2
    Egypt 12 0.6
    Poland 17 0.9
    United Kingdom 68 3.5
    Other 60 3.1
    Others 70 3.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 4 0.2
    Christianity 1364 73.8
    Islam 22 1.2
    Other Religious Groups 16 0.9
    No Religion 437 23.7
    Others 4 0.2
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 108 13.4
    $400-$599 119 14.8
    $600-$799 106 13.2
    $800-$999 87 10.8
    $1,500-$1,999 81 10.0
    Others 305 37.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 714 43.6
    Employed, worked full-time 510 31.2
    Employed, worked part-time 292 17.8
    Unemployed, looking for work 65 4.0
    Employed, away from work 55 3.4
    Person Characteristics
  • Census Count Percent(%)
    Professionals 107 12.5
    Technicians & trades workers 137 16.0
    Community & personal service workers 99 11.5
    Clerical & administrative workers 163 19.0
    Labourers 108 12.6
    Others 244 28.4
    Occupation
    Census Count Percent(%)
    Pre-school 20 5.4
    Infants/Primary 117 31.4
    Secondary 119 31.9
    Technical or Further Educational Institution 56 15.0
    University or other Tertiary Institutions 47 12.6
    Others 14 3.8
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 1675 87.8
    Flat, unit or apartment 207 10.9
    Semi-detached, row or terrace house, townhouse 18 0.9
    House or flat attached to a shop, office 7 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 353 42.0
    Being purchased 274 32.6
    Rented 211 25.1
    Other tenure type 3 0.4
    Tenure Type
Census 2011, ABS
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