At number 2517th in the list of Australian suburbs ordered by increase in median house value over the last year, Altona Meadows, 3028 is in the BOTTOM 40% with a property value increase of -4.18% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Altona Meadows,3028 has racked up an average of -4.18% over the period. This ranks it number 456th in the whole country for real estate investors looking at median house price increases.
The most recent median price for Altona Meadows is $630000, with sellers offering an average of -6.15% off the asking price.
VIC has seen average median house prices change by 0.10% which means that Altona Meadows, 3028 has done well for property investors by showing a capital gain of -0.54% over the last year
Altona Meadows,3028 has offered an average of -0.54% return per annum in house price rises to property investors over the last three years.
The most recent median price for Altona Meadows is $460000, with sellers offering an average of -6.76% off the asking price.
In the last year 35 properties changed hands in Altona Meadows, which puts it as the 166th most active market in VIC when comparing the number of sales per suburb.
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.