Over the last year, property investments in Altona Meadows, 3028 have given investors a capital gain of 14.74%. This compares favourably with the 9.04% for VIC as a whole.
While Altona Meadows,3028 ranked number 258th in VIC for increase in median house value (annualised) increase, it is ranked 274th over the last 5 years.
Property buyers and investors in Altona Meadows 3028 should be seeing an average reduction in asking price of around -3.52% . This means that Altona Meadows is holding prices well when compared to other suburbs in VIC.
In the last year 153 properties changed hands in Altona Meadows, which puts it as the 161th most active market in VIC when comparing the number of sales per suburb.
Altona Meadows is 331th on a list of best yielding suburbs for rents in VIC with a 3.38% return
Altona Meadows, 3028 ranked 192th in VIC when comparing growth in median property values or capital gain over the last 12 months. Altona Meadows is one of 2098 in our list for VIC
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Altona Meadows has increased when compared to the 5 year average annual rate.
The most recent median price for Altona Meadows is $375000, with sellers offering an average of -4.55% off the asking price.
Often selling an investment property can take time, and in Altona Meadows the average time real estate has been on the market is 57.93 days.
Situated 13.83km from the CBD, Altona Meadows is one of Hobsons Bay localities in the postcode 3028.
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.