Altona has had a very poor year for property investment returns compared to the rest of VIC, giving investors a capital gain of -8.11% to date .
Across a shorter period, Altona, 3018 has seen a median price increase of -7.61% over the last quarter.
At number 96th of VIC’s most discounted properties, Altona is in the bottom 20% of the state/territory when listing in order of most discounted to least.
In the last year 139 properties changed hands in Altona, which puts it as the 168th most active market in VIC when comparing the number of sales per suburb.
Advertised rents are around the $422.5 mark per week – giving a return of 2.58% based on the median price in Suburb
If you compare the increase in value of investment property in Altona, 3018 to the rest of Australia, it performed poorly. The median increase in value, or capital gain property investors experienced for this VIC suburb was -9.17%.
The five-year average increase in median property values for Altona,3018 has given property investors a potential capital gain of 17.08% across each of those five years.
The most recent median price for Altona is $545000, with sellers offering an average of -4.81% off the asking price.
Residents and property investors in Altona have been waiting around 64.3 days to sell a property.
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