Property investors who have had real estate in Altona Meadows, 3028 should be pleased 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 15.22%
A 28.00% growth in median value for property investors in Altona Meadows,3028 puts this suburb at number 199th in terms of best performing suburbs in VIC
Property buyers and investors in Altona Meadows 3028 should be seeing an average reduction in asking price of around -4.94% . This means that Altona Meadows is holding prices well when compared to other suburbs in VIC.
At number 269 in a list of fastest selling suburbs, Altona Meadows is in the TOP 10% of suburbs in Australia with an average of days on market 42.98 for properties listed there.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
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 6.79%
Altona Meadows,3028 was ranked 383 in Australia by increase in median property value over the quarter.
Vendor discounting in Altona Meadows is giving property investors an average Vendor Discount of around -3.35%. This puts suburb at number 273th in VIC when ranking the most discounted suburbs.
In the last year 50 properties changed hands in Altona Meadows, which puts it as the 175th most active market in VIC when comparing the number of sales per suburb.
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.