Australia Heads Towards An Apartment Drought
The Property Council is predicting an apartment supply crunch across some of the country’s largest housing markets, wh...
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 $261,000.
The upward trend in home prices in MONTELLO, 7320 averaged 11.05% per annum over a 3-year period.
Average weekly rents on listings have reached the $275 mark, reflecting a 5.48% increase in returns based on the current median price in MONTELLO.
An average of 3.08 real estate transactions take place per month in MONTELLO which translates to 37 per annum.
37 properties were sold in MONTELLO in 2016, making it the 61st most active market in TAS based on total real estate transactions.
MONTELLO, 7320 places 163rd in Australia based on median property value growth during the quarter.
|KEY PROPERTY DATA REPORT||HOUSE||UNIT|
|Median 12 month||12.26%||N/A|
|Median 3 years||33.16%||N/A|
|Median 5 years||45%||N/A|
|10 years average annual||2.69%||N/A|
|Weekly media advert. rent||$275||N/A|
|Time on Market||45.2 days||N/A|
|Gross Rental Yield Percent||5.48%||N/A|