With a capital gain of 10.25% for the last 12 months, Altona, 3018 has performed for property investments than its average annual 8.81% property growth over the last 5 years.
Over the longer term, Altona has seen property prices show investors a 38.45% return over the last 3 years. This is worse than over the last 12 months
Sellers are offering property buyers an average discount of -4.34% to buyers in Altona at the moment, which is less than average for the rest of VIC.
The VIC suburb of Altona, 3018 is in the Hobsons Bay local government area.
Giving property investors a an average capital gain of 3.39% for the last year, Altona, 3018 is the 939th highest performer in Australia in this respect.
While Altona,3018 ranked number 320th in VIC for increase in median house value (annualised) increase, it is ranked 30th over the last 5 years.
LACK OF BUYER INTEREST may well be the reason that Altona is offering property investors an average of -4.58. This rate of discount on properties puts Suburb at number 224th in terms of most discounted suburbs in VIC
Altona, 3018’s gross rental yield is 3.07%
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