Investment property in Altona 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 5.36%
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Altona has increased when compared to the 5 year average annual rate.
Altona, 3018 is offering VIC ‘s 198th most discounted properties when looking at the average discount being offered by vendors. This puts it in the TOP 40% of discounts offered by this VIC.
In the last year 130 properties changed hands in Altona, which puts it as the 171th most active market in VIC when comparing the number of sales per suburb.
Altona, 3018’s gross rental yield is 2.59%
Property value increases in Altona have tracked just higher than the VIC average of 6.11% over the last 12 months.
When looking at the potential capital gains offered to property investors over the last 3 years, Altona comes in at number 289th in VIC.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Altona, 3018. Typically our figures indicate that -5.19% is being offered, which puts this VIC suburb at 717th most discounted overall in Australia.
In the last year 78 properties changed hands in Altona, which puts it as the 98th most active market in VIC when comparing the number of sales per suburb.
With the median price for a house in Altona being $620000 and the advertised rent reaching $440 the gross rental yield for property investors calculates out to be 3.69%
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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.