Property value increases in Altona Meadows have tracked just higher than the VIC average of 7.80% over the last 12 months.
A 19.75% growth in median value for property investors in Altona Meadows,3028 puts this suburb at number 357th in terms of best performing suburbs in VIC
Altona Meadows, 3028 is offering VIC ‘s 355th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.
Often selling an investment property can take time, and in Altona Meadows the average time real estate has been on the market is 45.33 days.
Using the current median advertised rental of $350 and the average annual increase in value of a median property of 6.77%, investors should hope to achieve an overall return of 3.75%
Investment property in Altona Meadows has done not badly for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 5.29%
Altona Meadows,3028 has offered an average of 5.29% return per annum in house price rises to property investors over the last three years.
Property investors looking for a bargain in Altona Meadows should be aiming for at least -3.55% off the asking price, which is the average vendor discount being achieved at the moment.
A $315 per week rent on the median house gives suburb investors a gross yield of circa 4.45%, without taking into account capital value appreciation, which has been averaging out at 5.56%.
There are many selling points of the suburb which include affordability, close proximity to the CBD, close proximity to the beach, easy access to the Zone 1 train station and a great family environment. Why would investors want to buy there? Investors typically look for good capital growth and secure tenants, which Altona Meadows offers.Full summary
Information supplied by:
Hunter French Real Estate
Main selling points:
There are many selling points of the suburb which include affordability, close proximity to the CBD, close proximity to the beach, easy access to the Zone 1 train station and a great family environment. Why would investors want to buy there? Investors typically look for good capital growth and secure tenants which Altona Meadows offers.
The properties in most demand are 3bed 2 bathroom homes with 2 living areas.
The types of homes that would best describe the suburb are contemporary.
Local shopping centre, sports complex, bicycle and walking tracks and public transport including train.
Main businesses and employers:
Hobson’s Bay has some of the largest heavy industries including Toyota, Mobil and Coles Myer.
I have recently noticed a shift in the council’s policy to allow more dense developments in the suburb of Altona which will attract more people to the area.
Best streets and areas:
Altona Bay is the most sort after location because of its proximity to the Altona Beach, proximity to the Cheetham wetlands and the larger more established homes.
The council has recently completed an upgrade of the Laverton Train station including more car spots top accommodate the increase in commuters.
Access to attractions:
Altona Meadows neighbours the Princess Freeway and Western Ring road offering easy access to all parts of Melbourne and regional areas.