If you compare the increase in value of investment property in Altona, 3018 to the rest of Australia, it performed very well. The median increase in value, or capital gain property investors experienced for this VIC suburb was 14.20%.
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.
At number 253th of VIC’s most discounted properties, Altona is in the bottom 40% of the state/territory when listing in order of most discounted to least.
Residents and property investors in Altona have been waiting around 63.6 days to sell a property.
Altona, 3018’s gross rental yield is 2.48%
Altona is in the bottom 40% 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 4.93%.
If we look at median property appreciation over just the last three months, Altona has given property investors a paper return of 1.59%. This puts Suburb as 188 on a list of fastest fasting appreciating suburbs in VIC
Altona3018 is located in VIC which offers an average discount of -4.70% to property investors. Altona itself is showing figures that indicate -4.01% is the average achievable by property buyers investing in the suburb.
At number 725 in a list of fastest selling suburbs, Altona is just in the top half of suburbs in Australia with an average of days on market 70.21 for properties listed there.
A $370 per week rent on the median house gives suburb investors a gross yield of circa 3.01%, without taking into account capital value appreciation, which has been averaging out at 8.44%.
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