Suburb Profile Report for Altona VIC (3018)

Altona House: Median price $915,000, Annual capital growth 6.75%, Number of sales 166, Weekly median advertised rent $450

Altona Unit: Median price $621,500, Annual capital growth 5.72%, Number of sales 89, Weekly median advertised rent $380

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales
  • House Report
  • Unit Report
  • Expert Report

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%

Information supplied by:


June 2017

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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.Full summary

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
Metrics i HOUSE UNIT
$915,000 $621,500
-2.14% -4.38%
7.27% -1.19%
6.75% 5.72%
$450 $380
166 89
2.56% 3.18%
71.79 59.78

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
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Demographics
Total population 9918
Median household income ($/weekly) 1136
Median age of persons 42
Median housing loan repayment ($/monthly) 1790
Average household size 2.3
  • Census Count Percent(%)
    25-34 years 1359 13.7
    35-44 years 1513 15.3
    45-54 years 1370 13.8
    55-64 years 1220 12.3
    65-74 years 927 9.3
    Others 3529 35.6
    Age Group
    Census Count Percent(%)
    Registered Married 3734 47.3
    Not Married 3425 43.4
    Defacto Relationship 739 9.4
    Social Marital Status
  • Census Count Percent(%)
    Australia 6449 68.2
    Indonesia 242 2.6
    Netherlands 254 2.7
    United Kingdom 712 7.5
    Other 413 4.4
    Others 1387 14.7
    Country of Birth
    Census Count Percent(%)
    Buddhism 197 2.2
    Christianity 6211 67.9
    Hinduism 157 1.7
    Islam 148 1.6
    No Religion 2324 25.4
    Others 105 1.1
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 349 9.3
    $400-$599 407 10.8
    $600-$799 366 9.7
    $800-$999 348 9.3
    $1,500-$1,999 455 12.1
    Others 1832 48.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Not in the labour force 3144 39.2
    Employed, worked full-time 3047 38.0
    Employed, worked part-time 1326 16.6
    Unemployed, looking for work 256 3.2
    Employed, away from work 238 3.0
    Person Characteristics
  • Census Count Percent(%)
    Managers 541 11.7
    Professionals 1079 23.4
    Technicians & trades workers 659 14.3
    Community & personal service workers 414 9.0
    Clerical & administrative workers 812 17.6
    Others 1102 23.9
    Occupation
    Census Count Percent(%)
    Pre-school 133 7.2
    Infants/Primary 593 32.3
    Secondary 441 24.0
    Technical or Further Educational Institution 171 9.3
    University or other Tertiary Institutions 382 20.8
    Others 117 6.4
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 7412 78.4
    Flat, unit or apartment 1154 12.2
    Semi-detached, row or terrace house, townhouse 864 9.1
    House or flat attached to a shop, office 19 0.2
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 1783 44.1
    Rented 1225 30.3
    Being purchased 1021 25.2
    Other tenure type 16 0.4
    Tenure Type
Census 2011, ABS
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