Suburb Profile Report for Altona Meadows VIC (3028)

Altona Meadows House: Median price $485,000, Annual capital growth 6.77%, Number of sales 175, Weekly median advertised rent $350

Altona Meadows Unit: Median price $368,500, Annual capital growth 5.56%, Number of sales 53, Weekly median advertised rent $315

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

Property value increases in Altona Meadows have tracked just higher than the VIC average of 7.80% over the last 12 months.

A 19.75% growth in median value for property investors in Altona Meadows,3028 puts this suburb at number 357th in terms of best performing suburbs in VIC

Altona Meadows, 3028 is offering VIC ‘s 355th most discounted properties when looking at the average discount being offered by vendors. This puts it in the middle of discounts offered by this VIC.

Often selling an investment property can take time, and in Altona Meadows the average time real estate has been on the market is 45.33 days.

Using the current median advertised rental of $350 and the average annual increase in value of a median property of 6.77%, investors should hope to achieve an overall return of 3.75%

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 5.29%

Altona Meadows,3028 has offered an average of 5.29% return per annum in house price rises to property investors over the last three years.

Property investors looking for a bargain in Altona Meadows should be aiming for at least -3.55% off the asking price, which is the average vendor discount being achieved at the moment.

A $315 per week rent on the median house gives suburb investors a gross yield of circa 4.45%, without taking into account capital value appreciation, which has been averaging out at 5.56%.

Michael Tsigeridis Information supplied by:

Michael Tsigeridis
Hunter French Real Estate

M 0421 336633
O 03 93927888

W http://hunterfrench.com.au/
E michael@hunterfrench.com.au
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

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.

Properties in-demand:

The properties in most demand are 3bed 2 bathroom homes with 2 living areas.

Typical homes:

The types of homes that would best describe the suburb are contemporary.

Best amenities:

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.

Recent changes:

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.

Public transport:

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.

Close
HOUSE UNIT
$485,000 $368,500
1.04% 1.87%
11.49% 5.29%
6.77% 5.56%
$350 $315
175 53
3.75% 4.45%
45.33 52.78

Source: CoreLogic

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Altona Meadows VIC
Demographics
Total population 18745
Median household income ($/weekly) 1227
Median age of persons 37
Median housing loan repayment ($/monthly) 1500
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2017 10.8
    25-34 years 2849 15.2
    35-44 years 2852 15.2
    45-54 years 2916 15.6
    55-64 years 2199 11.7
    Others 5914 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 6911 47.9
    Not Married 6391 44.3
    Defacto Relationship 1130 7.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11215 63.2
    Indonesia 673 3.8
    Netherlands 503 2.8
    United Kingdom 661 3.7
    Other 959 5.4
    Others 3733 21.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 747 4.3
    Christianity 11750 68.2
    Hinduism 382 2.2
    Islam 830 4.8
    No Religion 3205 18.6
    Others 323 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 587 9.9
    $1,000-$1,249 635 10.7
    $1,250-$1,499 630 10.6
    $1,500-$1,999 844 14.2
    $2,000-$2,499 646 10.9
    Others 2609 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5879 39.8
    Not in the labour force 5098 34.5
    Employed, worked part-time 2583 17.5
    Unemployed, looking for work 634 4.3
    Employed, away from work 569 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1350 15.0
    Technicians & trades workers 1438 15.9
    Clerical & administrative workers 1542 17.1
    Machinery operators & drivers 998 11.1
    Labourers 1067 11.8
    Others 2627 29.1
    Occupation
    Census Count Percent(%)
    Pre-school 244 6.1
    Infants/Primary 1251 31.4
    Secondary 1147 28.8
    Technical or Further Educational Institution 383 9.6
    University or other Tertiary Institutions 729 18.3
    Others 224 5.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16507 93.2
    Flat, unit or apartment 900 5.1
    Semi-detached, row or terrace house, townhouse 307 1.7
    House or flat attached to a shop, office 5 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2411 37.3
    Being purchased 2364 36.5
    Rented 1676 25.9
    Other tenure type 17 0.3
    Tenure Type
Census 2011, ABS
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Recent sales & rentals