Altona has had a pretty average year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.68% to date .
While Altona,3018 ranked number 621th in VIC for increase in median house value (annualised) increase, it is ranked 145th over the last 5 years.
Our latest figures would indicate that property sellers in Altona are currently offering property investors an average price cut of -3.64% below the asking price at the moment.
On average over the past year, suburb has had 13.17 sales per month, which equates to 158 per year.
Using the current median advertised rental of $395 and the average annual increase in value of a median property of 8.52%, investors should hope to achieve an overall return of 2.62%
If you compare the increase in value of investment property in Altona, 3018 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 6.32%.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Altona has increased when compared to the 5 year average annual rate.
Altona3018 is located in VIC which offers an average discount of -5.13% to property investors. Altona itself is showing figures that indicate -4.12% is the average achievable by property buyers investing in the suburb.