Property value increases in Altona Meadows have tracked just higher than the VIC average of 7.68% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Altona Meadows has increased when compared to the 5 year average annual rate.
State is the 6th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.04% offered to property buyers. Sellers in Altona Meadows itself are offering an average vendor discount of -5.09% to real estate investors.
Altona Meadows, 3028’s gross rental yield is 3.62%
Altona Meadows has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 7.86% to date .
If we look at median property appreciation over just the last three months, Altona Meadows has given property investors a paper return of 3.42%. This puts Suburb as 67 on a list of fastest fasting appreciating suburbs in VIC
Our latest figures would indicate that property sellers in Altona Meadows are currently offering property investors an average price cut of -3.42% below the asking price at the moment.
Residents and property investors in Altona Meadows have been waiting around 67.58 days to sell a property.
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.