Based on its average 5-year and quarterly capital gains, the suburb saw average growth in the long term.
The suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value. Investors saw the median home price rise to $189,000.
The upward trend in home prices in MONTELLO, 7320 averaged 4.28% per annum over a 3-year period.
Average weekly rents on listings have reached the $240 mark, reflecting a 6.6% increase in returns based on the current median price in MONTELLO.
An average of 2.5 real estate transactions take place per month in MONTELLO which translates to 30 per annum.
30 properties were sold in MONTELLO in 2016, making it the 87th most active market in TAS based on total real estate transactions.
MONTELLO, 7320 places 81st in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||3.56%||N/A|
|Median 3 years||12.84%||N/A|
|Median 5 years||-0.53%||N/A|
|10 years average annual||1.39%||N/A|
|Weekly media advert. rent||$240||N/A|
|Time on Market||83.8 days||N/A|
|Gross Rental Yield Percent||6.6%||N/A|