Over the last year, property investments in Altona Meadows, 3028 have given investors a capital gain of 13.98%. This compares favourably with the 8.23% for VIC as a whole.
If we look at median property appreciation over just the last three months, Altona Meadows has given property investors a paper return of 3.19%. This puts Suburb as 175 on a list of fastest fasting appreciating suburbs in VIC
At number 328th of VIC’s most discounted properties, Altona Meadows is in the middle of the state/territory when listing in order of most discounted to least.
Altona Meadows, 3028’s gross rental yield is 3.70%
Property investors who have had real estate in Altona Meadows, 3028 should be ok 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 3.93%
A 8.18% growth in median value for property investors in Altona Meadows,3028 puts this suburb at number 130th in terms of best performing suburbs in VIC
Our latest figures would indicate that property sellers in Altona Meadows are currently offering property investors an average price cut of -3.53% below the asking price at the moment.
In the last year 54 properties changed hands in Altona Meadows, which puts it as the 169th most active market in VIC when comparing the number of sales per suburb.
Using the current median advertised rental of $312.5 and the average annual increase in value of a median property of 5.66%, investors should hope to achieve an overall return of 4.47%
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.