Giving property investors a an unimpressive capital gain of -2.52% for the last year, Altona Meadows, 3028 is the 2690th highest performer in Australia in this respect.
Altona Meadows,3028 was ranked 3037 in Australia by increase in median property value over the quarter.
Altona Meadows3028 is located in VIC which offers an average discount of -6.51% to property investors. Altona Meadows itself is showing figures that indicate -5.55% is the average achievable by property buyers investing in the suburb.
On average over the past year, suburb has had 13.42 sales per month, which equates to 161 per year.
Renters in Suburb are facing rents around $19760 per annum or $380 every week.
If you compare the increase in value of investment property in Altona Meadows, 3028 to the rest of Australia, it performed around average. The median increase in value, or capital gain property investors experienced for this VIC suburb was 0.11%.
When looking at the potential capital gains offered to property investors over the last 3 years, Altona Meadows comes in at number 83th in VIC.
Property buyers and investors in Altona Meadows 3028 should be seeing an average reduction in asking price of around -5.27% . This means that Altona Meadows is holding prices well when compared to other suburbs in VIC.
Residents and property investors in Altona Meadows have been waiting around 48.2813 days to sell a property.
Altona Meadows, 3028’s gross rental yield is 3.86%
Information supplied by:
Hunter French Real Estate
Main selling points:
There are many selling points of the suburb which include affordability, close proximity to the CBD, close proximity to the beach, easy access to the Zone 1 train station and a great family environment. Why would investors want to buy there? Investors typically look for good capital growth and secure tenants which Altona Meadows offers.
The properties in most demand are 3bed 2 bathroom homes with 2 living areas.
The types of homes that would best describe the suburb are contemporary.
Local shopping centre, sports complex, bicycle and walking tracks and public transport including train.
Main businesses and employers:
Hobson’s Bay has some of the largest heavy industries including Toyota, Mobil and Coles Myer.
I have recently noticed a shift in the council’s policy to allow more dense developments in the suburb of Altona which will attract more people to the area.
Best streets and areas:
Altona Bay is the most sort after location because of its proximity to the Altona Beach, proximity to the Cheetham wetlands and the larger more established homes.
The council has recently completed an upgrade of the Laverton Train station including more car spots top accommodate the increase in commuters.
Access to attractions:
Altona Meadows neighbours the Princess Freeway and Western Ring road offering easy access to all parts of Melbourne and regional areas.