Over the last year, property investments in Montrose, 7010 have given investors a capital gain of 14.37%. This compares favourably with the 9.78% for TAS as a whole.
Comparing Montrose,7010 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Property value increases in Montrose have tracked lower than the TAS average of 6.12% over the last 12 months.
A 57.54% growth in median value for property investors in Montrose,7010 puts this suburb at number 58th in terms of best performing suburbs in TAS
Often selling an investment property can take time, and in Montrose the average time real estate has been on the market is 29.8 days.
Renters in Suburb are facing rents around $16640 per annum or $320 every week.
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.