Altona Meadows is in the TOP 20% in VIC when comparing median price capital growth over the last year. Altona Meadows gave property investors a very good capital gain figure when compared to the rest of the state, with 15.76%.
While Altona Meadows,3028 ranked number 219th in VIC for increase in median house value (annualised) increase, it is ranked 269th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Altona Meadows is offering property investors an average of -5.91. This rate of discount on properties puts Suburb at number 417th in terms of most discounted suburbs in VIC
A $350 per week rent on the median house gives suburb investors a gross yield of circa 3.48%, without taking into account capital value appreciation, which has been averaging out at 7.20%.
Investment property in Altona Meadows has done around average for investors when compared to the country as a whole over the last 12 months, with an increase in the median house price of 3.64%
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 -4.43% to buyers in Altona Meadows at the moment, which is less than average for the rest of VIC.
On average over the past year, suburb has had 4.92 sales per month, which equates to 59 per year.
The VIC suburb of Altona Meadows, 3028 is in the Hobsons Bay local government area.
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.