Situated in Tasmania's 7320 postcode, Montello is a well-established residential suburb. As a regional suburb, the suburb is serviced by 1 schools and benefits from solid transport and amenity access.
Montello has a population of approximately 1,241, a median age of 37, a median weekly household income of $1,131. The suburb has a balanced mix of owner-occupiers (60%) and renters, indicating healthy demand across both segments. Across the broader LGA, 23.6% of residents hold a university qualification.
Key employment industries in the broader local government area include Health Care and Social Assistance (19.6%), Retail Trade (12.3%), Education and Training (8.3%).
The current median house price in Montello is $465,000. The suburb has delivered strong average annual growth of 12.5% over the past five years, outperforming many comparable markets. In the past 12 months, prices have increased 9.8%.
Properties in Montello spend an average of 14 days on market. Online buyer demand is currently rated as high online demand. Stock on market sits at 0.16%. With inventory levels at just 0.32 months, supply is tight relative to demand. The average vendor discount is -3.4%, meaning sellers are typically negotiating below asking price.
The median weekly rent for houses in Montello is $428. Gross rental yield is 4.79%, providing a solid income return. The vacancy rate of 0.61% signals very strong rental demand. Rents have grown 8.35% over the past 12 months.
The broader local government area is forecast to grow from 19,724 to 19,916 residents by 2031 (1.0% growth).
Explore other suburb profiles in the area: Burnie, TAS, Park Grove, TAS, Romaine, TAS, Upper Burnie, TAS, Somerset, TAS.
Handle Properties is a Sydney-based buyer's agency helping investors build portfolios of high-growth investment properties across Australia. If you are considering Montello or need help identifying the right suburb for your strategy, get in touch with our team.
The quantitative data below has been compiled on 30th May 2023 from a range of third party sources using a variety of manual methods. Handle does not guarantee the accuracy of this data shown below.