Suburb Profile Report for Altona Meadows VIC (3028)

Altona Meadows House: Median price $512,000, Annual capital growth 7.19%, Number of sales 158, Weekly median advertised rent $350

Altona Meadows Unit: Median price $377,500, Annual capital growth 5.75%, Number of sales 50, Weekly median advertised rent $315

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property investors who have had real estate in Altona Meadows, 3028 should be pleased with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 15.22%

A 28.00% growth in median value for property investors in Altona Meadows,3028 puts this suburb at number 199th in terms of best performing suburbs in VIC

Property buyers and investors in Altona Meadows 3028 should be seeing an average reduction in asking price of around -4.94% . This means that Altona Meadows is holding prices well when compared to other suburbs in VIC.

At number 269 in a list of fastest selling suburbs, Altona Meadows is in the TOP 10% of suburbs in Australia with an average of days on market 42.98 for properties listed there.

Renters in Suburb are facing rents around $4200 per annum or $350 every week.

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 6.79%

Altona Meadows,3028 was ranked 383 in Australia by increase in median property value over the quarter.

Vendor discounting in Altona Meadows is giving property investors an average Vendor Discount of around -3.35%. This puts suburb at number 273th in VIC when ranking the most discounted suburbs.

In the last year 50 properties changed hands in Altona Meadows, which puts it as the 175th most active market in VIC when comparing the number of sales per suburb.

Michael Tsigeridis Information supplied by:

Michael Tsigeridis
Hunter French Real Estate

M 0421 336633
O 03 93927888

W http://hunterfrench.com.au/
E michael@hunterfrench.com.au
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

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.

Properties in-demand:

The properties in most demand are 3bed 2 bathroom homes with 2 living areas.

Typical homes:

The types of homes that would best describe the suburb are contemporary.

Best amenities:

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.

Recent changes:

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.

Public transport:

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.

Close
HOUSE UNIT
$512,000 $377,500
3.96% 3.42%
15.22% 6.79%
7.19% 5.75%
$350 $315
158 50
3.55% 4.34%
42.98 69.05

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Altona Meadows VIC
Demographics
Total population 18745
Median household income ($/weekly) 1227
Median age of persons 37
Median housing loan repayment ($/monthly) 1500
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2017 10.8
    25-34 years 2849 15.2
    35-44 years 2852 15.2
    45-54 years 2916 15.6
    55-64 years 2199 11.7
    Others 5914 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 6911 47.9
    Not Married 6391 44.3
    Defacto Relationship 1130 7.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11215 63.2
    Indonesia 673 3.8
    Netherlands 503 2.8
    United Kingdom 661 3.7
    Other 959 5.4
    Others 3733 21.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 747 4.3
    Christianity 11750 68.2
    Hinduism 382 2.2
    Islam 830 4.8
    No Religion 3205 18.6
    Others 323 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 587 9.9
    $1,000-$1,249 635 10.7
    $1,250-$1,499 630 10.6
    $1,500-$1,999 844 14.2
    $2,000-$2,499 646 10.9
    Others 2609 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5879 39.8
    Not in the labour force 5098 34.5
    Employed, worked part-time 2583 17.5
    Unemployed, looking for work 634 4.3
    Employed, away from work 569 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1350 15.0
    Technicians & trades workers 1438 15.9
    Clerical & administrative workers 1542 17.1
    Machinery operators & drivers 998 11.1
    Labourers 1067 11.8
    Others 2627 29.1
    Occupation
    Census Count Percent(%)
    Pre-school 244 6.1
    Infants/Primary 1251 31.4
    Secondary 1147 28.8
    Technical or Further Educational Institution 383 9.6
    University or other Tertiary Institutions 729 18.3
    Others 224 5.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16507 93.2
    Flat, unit or apartment 900 5.1
    Semi-detached, row or terrace house, townhouse 307 1.7
    House or flat attached to a shop, office 5 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2411 37.3
    Being purchased 2364 36.5
    Rented 1676 25.9
    Other tenure type 17 0.3
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals