At number 793th in the list of Australian suburbs ordered by increase in median house value over the last year, Altona, 3018 is in the top 20% with a property value increase of 13.79% recorded in median house prices.
Comparing Altona,3018 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Vendor discounting in Altona is giving property investors an average Vendor Discount of around -3.59%. This puts suburb at number 523th in VIC when ranking the most discounted suburbs.
A $400 per week rent on the median house gives suburb investors a gross yield of circa 2.52%, without taking into account capital value appreciation, which has been averaging out at 9.11%.
Property value increases in Altona have tracked close to the VIC average of 4.28% over the last 12 months.
Over the longer term, Altona has seen property prices show investors a 24.46% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Altona are currently offering property investors an average price cut of -4.10% below the asking price at the moment.