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Montmorency suburb profile

Montmorency is a picturesque suburb located 18km northeast of Melbourne's CBD, known for its leafy environment and strong community spirit. Often referred to as "Monty" by locals, it offers a peaceful, family-friendly atmosphere with a mix of charming older homes and modern residences. The suburb is well-served by public transport, including Montmorency train station, and boasts a variety of local amenities such as cafes, shops, and parks. Montmorency's vibrant community events and proximity to the scenic Plenty River Trail make it an attractive destination for those seeking a tranquil yet connected lifestyle.

Montmorency property market performance

Current median dwelling price$924,012.5Past 3 months

Property growth+4.6%Past 12 months

Montmorency’s property market has shown positive growth over the past 12 months, with house values increasing by 5.2% and unit values rising by 3.9%. The median house price over the past three months has averaged $1.15 million, while units have averaged approximately $700,525, indicating sustained demand in the area.

Sales activity has been robust, with 38 houses and 14 units sold in the past three months. Units are selling faster than houses, with a median time on market of 29 days compared to 36 days for houses, suggesting a strong interest in the unit market.

The rental market in Montmorency has seen a notable increase in house rents, which have risen by 6.2% over the last 12 months. In contrast, unit rents have remained stable, showing no change, which may indicate a balanced demand for rental properties.

HousesUnits
Median price
Past 3 months
$1.15M$701K
Change in value
Past 12 months
5.2%3.9%
Sold
Past 3 months
3814
Median days on market
Past 12 months
3629
Average rent
Past 12 months
$690$518
Change in rent
Past 12 months
6.2%-2.3%

5 year median price trend for houses and units

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Montmorency demographics

Montmorency, a charming suburb located in Melbourne's northeastern region, is known for its leafy streets and strong sense of community. With a population of 9,250, it offers a peaceful suburban lifestyle while still being within reach of the city's amenities. The median age of 41 suggests a mature community, with many families and long-term residents enjoying the suburb's tranquil environment and family-friendly atmosphere.

The suburb is predominantly composed of family households, with 46.4% being couple families with children and 37.1% being couple families without children. This indicates a strong family presence, supported by local schools, parks, and community facilities that cater to family needs. One-parent families make up 15.1% of the households, adding to the suburb's diverse family dynamics.

Property ownership in Montmorency is notably high, with 40.1% of homes owned outright and 42.3% owned with a mortgage. This reflects a stable and established community, with many residents having a long-term commitment to the area. The rental market is relatively small, with only 17.6% of properties being rented, which may appeal to those seeking a more permanent residence. Montmorency's blend of natural beauty, community spirit, and convenient access to Melbourne makes it an attractive choice for families and individuals seeking a balanced lifestyle.

Montmorency infrastructure, key developments and investment opportunities

Montmorency has recently benefited from upgrades to local education infrastructure, including improvements at Montmorency Secondary College and Montmorency Primary School, which has strengthened the suburb's appeal for families. The suburb continues to offer strong public transport links via the Hurstbridge railway line and several bus routes, enhancing connectivity to the CBD and neighbouring areas.

Were Street remains a vibrant community hub, supporting local retailers, cafes, and services, contributing to Montmorency’s strong sense of community and walkability. Access to established green spaces and proximity to larger retail precincts like Greensborough further add to the suburb’s livability and sustained property demand. There have been no significant recent infrastructure projects or major council planning changes impacting property values at this time, but ongoing school and retail improvements help maintain its desirability.

Montmorency rental market trends

The rental market in Montmorency has experienced moderate growth, with house rents increasing by 6.2% over the past year to $690 per week, while unit rents have remained stable at $518 per week. This stability in unit rents, combined with the rise in house rents, reflects a balanced demand in this suburban area, making it an attractive option for both renters and investors seeking steady returns.

Suburbs near Montmorency

Some popular suburbs near Montmorency include:

How does Montmorency compare to nearby suburbs?

  • Median house prices: Montmorency’s median house price is 16.3% higher than Greensborough’s.
  • Median unit prices: Montmorency’s median unit price is 6.5% lower than Greensborough’s.
  • House price growth: Over the past 12 months, house prices in Montmorency have grown 4.7% higher than in Greensborough.
  • Unit price growth: Over the past 12 months, unit prices in Montmorency have grown 5.4% higher than in Greensborough.
  • Selling speed for houses: Properties in Montmorency are selling 33.3% faster than in Templestowe.
  • Selling speed for units: Properties in Montmorency are selling 27.5% faster than in Templestowe.
  • Investment considerations: In Montmorency, the rental yield for house is 10.9% higher than the Melbourne average, while the rental yield for units is 10.1% lower.
  • House price growth: Over the past 12 months, house prices in Montmorency have grown 13.0% higher than the average rate of growth across Melbourne.
  • Unit price growth:Over the past 12 months, unit prices in Montmorency have grown 27.5% higher than the average rate of growth for units across Melbourne.

Common questions about Montmorency

  • Is Montmorency a nice place to live?

    Montmorency is a delightful suburb that offers a serene and family-friendly environment, making it a wonderful place to call home. Nestled in Melbourne's northeastern region, Montmorency is known for its leafy streets and welcoming community vibe. The suburb is perfect for families, with a range of local schools and parks that cater to the needs of children and parents alike. The community spirit is palpable, with residents often participating in local events and activities that foster a strong sense of belonging.

    Living in Montmorency means enjoying the best of both worlds: a peaceful suburban lifestyle with easy access to the amenities of Melbourne. The suburb is well-connected by public transport, including the Montmorency train station, which makes commuting to the city convenient. Were Street serves as a vibrant community hub, offering a variety of cafes, shops, and services that enhance the suburb's livability. Additionally, the Plenty River Trail provides a scenic escape for those who love outdoor activities.

    While Montmorency offers a tranquil and connected lifestyle, it does come with some trade-offs. The rental market is relatively small, which might be a consideration for those looking for short-term accommodation. However, this also reflects a stable and established community, with many residents committed to the area long-term. Safety is generally not a concern, and the suburb's strong community ties contribute to a secure and welcoming environment.

    Overall, Montmorency is an attractive choice for families and individuals seeking a balanced lifestyle. Its blend of natural beauty, community spirit, and convenient access to Melbourne makes it a charming place to live. Whether you're looking for a permanent residence or a peaceful retreat from the city's hustle and bustle, Montmorency offers a unique and appealing living experience.

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  • Is it expensive to live in Montmorency?

    Montmorency, a charming suburb in Melbourne, presents a mixed picture when it comes to affordability. The median house price in Montmorency is currently $1,225,000, which is quite substantial compared to other suburbs, especially those further out from the city center. With no available data on unit prices, it seems the focus here is primarily on houses, which could limit options for those seeking more affordable unit living.

    Renting in Montmorency also comes with its costs, with the average rent for houses at $680 per week. This is a significant expense, especially when you consider the average wage in Melbourne is around $95,000 per year. The median total household income in Montmorency is $2,076 per week, which suggests that while some residents may comfortably afford these prices, others might find it more challenging.

    Overall, living in Montmorency can be considered on the pricier side, particularly for those earning the average Melbourne wage. If you're thinking of living in Montmorency, it's important to weigh these housing costs against your financial situation and lifestyle priorities. The suburb offers a pleasant living environment, but it's essential to ensure it aligns with your budgetary expectations.

    Disclaimer: To assess whether a suburb is considered expensive, we’ve looked at mortgage and rental costs as a proportion of the average local salary. That said, everyone’s financial situation is different, so it's important to consider your own circumstances when deciding which suburb is right for you.
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  • Is Montmorency a good place to invest?

    Montmorency presents a promising opportunity for property investors, particularly those interested in rental income. Over the past year, the suburb has experienced a modest increase in median house and unit values, with house prices rising by 2.3% and unit prices by 1.6%. While these growth rates may not be the highest in the region, they indicate a stable market with potential for steady appreciation over time.

    What truly stands out in Montmorency is the significant rise in rental yields. House rents have surged by 9.7%, and unit rents have jumped by an impressive 14.6% over the last 12 months. This trend suggests a strong demand for rental properties, making Montmorency an attractive option for investors seeking reliable rental income. The suburb's appeal is further enhanced by its family-friendly environment and proximity to essential amenities, which continue to draw renters and buyers alike.

    Overall, Montmorency offers a balanced investment opportunity with its combination of stable property values and robust rental demand. While it may not promise rapid capital growth, its consistent market performance and increasing rental yields make it a solid choice for investors looking for a dependable and potentially rewarding investment.

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Choose the right real estate agents in Montmorency

Choosing the right real estate agent in Montmorency can have a big impact on your sale. While there are 50 real estate agents working in the suburb, but just 5 of them were responsible for 52.7% of all property sales over the past year, showing a strong footprint and track record in the area.

Commission rates typically range from 1.54% to 2.94%, depending on the agent and what’s included. Comparing both performance and fee structures can help you find someone who's well-suited to your needs, and set them up for a successful result.

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