Property investors who have had real estate in Altona, 3018 should be relatively unhappy with this VIC suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -8.99%
Comparing Altona,3018 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
The most recent median price for Altona is $837500, with sellers offering an average of -7.37% off the asking price.
A $425 per week rent on the median house gives suburb investors a gross yield of circa 2.64%, without taking into account capital value appreciation, which has been averaging out at 6.94%.
VIC has seen average median house prices change by 0.68% which means that Altona, 3018 has done well for property investors by showing a capital gain of -3.46% over the last year
Taking the average capital gain, or increase in median house value, Altona,3018 has racked up an average of -3.46% over the period. This ranks it number 695th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Altona are currently offering property investors an average price cut of -8.00% below the asking price at the moment.
On average over the past year, suburb has had 5.75 sales per month, which equates to 69 per year.
Altona is 282th on a list of best yielding suburbs for rents in VIC with a 3.55% return
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The home of the popular Altona Beach, the suburb of Altona is making waves as a fast growing suburb near the CBD.
Both the house and unit markets have recorded price increases over the past 12 months, continuing a trend observed over the past five years. Houses performed considerably better with 13.6% growth, bringing the median price to over $850,000.
Altona is a large suburb that accommodates both a residential side and an industrial pocket, which generates many employment opportunities. Commuters also have their pick of three railway stations, as well as buses and a weekday shuttle service. There are also many primary and secondary schools.
Aside from the beach, the Hobsons Bay Coastal Trail is another nature-based attraction for cyclists. There are several parks and gardens as well. Melbourne Ballpark is situated just west of the suburb.