Over the last year, property investments in Altona Meadows, 3028 have given investors a capital gain of 15.79%. This compares favourably with the 9.78% for VIC as a whole.
Altona Meadows,3028 was ranked 887 in Australia by increase in median property value over the quarter.
Altona Meadows3028 is located in VIC which offers an average discount of -5.71% to property investors. Altona Meadows itself is showing figures that indicate -2.82% is the average achievable by property buyers investing in the suburb.
At number 255 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 38.2 for properties listed there.
Altona Meadows is 341th on a list of best yielding suburbs for rents in VIC with a 3.31% return
Altona Meadows has had a pretty good year for property investment returns compared to the rest of VIC, giving investors a capital gain of 8.06% to date .
Over the longer term, Altona Meadows has seen property prices show investors a 16.24% return over the last 3 years. This is worse than over the last 12 months
Our latest figures would indicate that property sellers in Altona Meadows are currently offering property investors an average price cut of -3.64% below the asking price at the moment.
Using the current median advertised rental of $320 and the average annual increase in value of a median property of 5.87%, investors should hope to achieve an overall return of 4.27%
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.