Real Estate Montmorency, VIC, 3094 Banyule

Thinking about buying in Montmorency? Now could not be a better time, with a whopping 4824 properties either residential or commercial there's certainly plenty to choose from.

The average property price for this area is $1,315,000 with prices in this suburb ranging from $537,000 to $4,800,000.

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Montmorency Real Estate Market Outlook

Consistent high demand relative to supply is a key feature in Montmorency driving regular price increases. Recent rapid price increases however may constrain future growth by limiting demand. High average incomes in Montmorency ensure a focus on quality with a commensurate high entry price under constant demand. Competition for available quality housing is intense with multiple offers likely to be made in excess of asking prices. The high percentage of professional people in Montmorency classifies the area as "gentrified". This implies high demand for quality housing, generally of larger than average size. Price growth is ensured even where the state affordability index is negatively impacting other areas. High density population in Montmorency requires consistent turnover in housing ensuring constant demand. Housing styles may be a mix of low, medium, and high density, providing choice for well-financed buyers and value growth over time. Higher than average industry presence in the wider area offering local employment yet with not a large negative impact on local amenity, provides good demand and price growth.