Property investors who have had real estate in Montrose, 7010 should be pleased with this TAS suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 17.29%
Over the longer term, Montrose has seen property prices show investors a 32.20% return over the last 3 years. This is worse than over the last 12 months
Advertised rents are around the $400 mark per week – giving a return of 5.33% based on the median price in Suburb
Information supplied by:
Apartments on a downward slope
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.