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:
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.