If you compare the increase in value of investment property in Altona Meadows, 3028 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 17.11%.
If we look at median property appreciation over just the last three months, Altona Meadows has given property investors a paper return of 3.27%. This puts Suburb as 257 on a list of fastest fasting appreciating suburbs in VIC
LACK OF BUYER INTEREST may well be the reason that Altona Meadows is offering property investors an average of -5.26. This rate of discount on properties puts Suburb at number 577th in terms of most discounted suburbs in VIC
With the median price for a house in Altona Meadows being $568000 and the advertised rent reaching $360 the gross rental yield for property investors calculates out to be 3.30%
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 16.48%
Comparing Altona Meadows,3028 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Sellers are offering property buyers an average discount of -3.04% to buyers in Altona Meadows at the moment, which is less than average for the rest of VIC.
In the last year 56 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.
Property investors should expect to get $330 weekly from the median priced house in this suburb.
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.