Montmorency

POSTAL CODE: VIC, 3094

HOUSE

UNIT

A steady increase in median property prices over a five-year period in the suburb translates to a 6.36% capital gain.

It also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.Investors saw the median home price rise to $1,170,000

The augmented property values in the suburb are trailing behind the territorial average of 2.91% in 2016.

On the other hand, based on current median home prices for the suburb, Real estate investors could earn a rental income of $695.

Home owners selling their properties and realtors in MONTMORENCY usually have to wait an average of 43.6 days days before their assets are lifted off the market.

The VIC suburb ranks 397th on the list of best yielding suburbs for rental properties in VIC, posting a 3.09% return.

It also places places 354th in Australia based on median property value growth during the quarter.

A survey of average capital gains or median home price increase in suburbs across the country shows that MONTMORENCY, 3094 obtained a 4.08% growth over a ten-year period. It ranks 1091st on our list of suburbs that property investors should look into.

MONTMORENCY, 3094 has a capital gain of -5.21% for the past year, which is lower than average compared to its 7.05% growth within a five-year period.

With the median home price in MONTMORENCY sitting at $782,000, and the average rent at $530, property owners could potentially earn a 3.52% increase in gross rental yield.

Figures from the previous quarter show that capital gains for real estate buyers in MONTMORENCY are low, as opposed to average gains per annum over the past five years.

MONTMORENCY, 3094 in VIC belongs to the local government area of Banyule.

Surburb overview

Montmorency, affectionately known as "Monty," is a suburb in the City of Banyule, approximately 18 kilometres northeast of Melbourne's Central Business District. According to the 2021 census, it has a population of 9,250.

Montmorency is served by the Montmorency railway station on the Hurstbridge line, providing residents access to Melbourne's CBD in about 48 minutes. Additionally, several bus routes, including the 293, 901, 513, and 514, connect the suburb to surrounding areas such as Box Hill, Frankston, Melbourne Airport, Glenroy, and Eltham.

The suburb's main commercial area centres Were Street, known for its unique mosaic-inlaid footpaths depicting local history. This shopping strip is notable for its low proportion of national chain stores and offers a variety of local cafes, boutiques, and essential services. Additional amenities include an RSL club, a lawn bowls club, and the Montmorency Scout Hall near Petrie Park Oval.

Montmorency boasts several parks and reserves, particularly along the Plenty River, providing residents with ample opportunities for outdoor activities. The suburb is home to the Montmorency Football Club, which competes in the Northern Football League. Its facilities are located at Montmorency Park. The area also offers various walking and cycling trails, contributing to its family-friendly atmosphere.

The housing market in Montmorency features a mix of architectural styles, including traditional homes and modern developments. The median unit property price is approximately $832,000, and annual capital growth is 7.98%. Unit rental yields are around 3.66%, and the median weekly rent is $550.

Montmorency offers a picturesque, community-focused lifestyle with convenient access to essential services and recreational facilities, making it a desirable suburb in Melbourne's north-east.

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Data report can be found below

Key Property Date Report	HOUSE	UNIT
Median Price	$1,170,000	$782,000
Growth Report
Median Quarterly	1.74%	1.1%
Median 12 month	1.74%	-5.21%
Median 3 years	6.36%	-6.63%
Median 5 years	29.71%	7.05%
10 years average annual	5.27%	4.08%
Weekly media advert. rent	$695	$530
Time on Market	43.6 days	60.2 days
Gross Rental Yield Percent	3.09%	3.52%

Demographics (Median Values)*

Total Population 8960

Weekly Household Income 1742

Household Size 2.60

Average Age 40

Monthly Loan Repayment 1883

* Australian Bureau of Statistics (May 2021) 2016 Census DataPacks[https://datapacks.censusdata.abs.gov.au/datapacks/],ABS Website, accessed 2016.

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