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 15.63%.
Altona Meadows,3028 was ranked 742 in Australia by increase in median property value over the quarter.
LACK OF BUYER INTEREST may well be the reason that Altona Meadows is offering property investors an average of -5.53. This rate of discount on properties puts Suburb at number 548th in terms of most discounted suburbs in VIC
Using the current median advertised rental of $355 and the average annual increase in value of a median property of 7.47%, investors should hope to achieve an overall return of 3.33%
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 8.06%
Altona Meadows,3028 was ranked 399 in Australia by increase in median property value over the quarter.
Property investors looking for a bargain in Altona Meadows should be aiming for at least -3.21% off the asking price, which is the average vendor discount being achieved at the moment.
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.