At number 1332th in the list of Australian suburbs ordered by increase in median house value over the last year, Altona, 3018 is in the top 40% with a property value increase of 7.27% recorded in median house prices.
Altona,3018 was ranked 3216 in Australia by increase in median property value over the quarter.
Property buyers and investors in Altona 3018 should be seeing an average reduction in asking price of around -6.87% . This means that Altona is holding prices well when compared to other suburbs in VIC.
The VIC suburb of Altona, 3018 is in the Hobsons Bay local government area.
Altona is in the bottom 30% in VIC when comparing median price capital growth over the last year. Altona gave property investors a disappointing capital gain figure when compared to the rest of the state, with -1.19%.
The five-year average increase in median property values for Altona,3018 has given property investors a potential capital gain of 42.71% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Altona is offering property investors an average of -4.82. This rate of discount on properties puts Suburb at number 116th in terms of most discounted suburbs in VIC
With the median price for a house in Altona being $621500 and the advertised rent reaching $380 the gross rental yield for property investors calculates out to be 3.18%
The home of the popular Altona Beach, the suburb of Altona is making waves as a fast growing suburb near the CBD.Full summary
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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. Close