Suburb Profile Report for Altona Meadows VIC (3028)

Altona Meadows House: Median price $630,000, Annual capital growth 6.93%, Number of sales 156, Weekly median advertised rent $375

Altona Meadows Unit: Median price $460,000, Annual capital growth 5.30%, Number of sales 35, Weekly median advertised rent $343

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

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

Michael Tsigeridis Information supplied by:

Michael Tsigeridis
Hunter French Real Estate

M 0421 336633
O 03 93927888

W http://hunterfrench.com.au/
E michael@hunterfrench.com.au

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.

Properties in-demand:

The properties in most demand are 3bed 2 bathroom homes with 2 living areas.

Typical homes:

The types of homes that would best describe the suburb are contemporary.

Best amenities:

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.

Recent changes:

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.

Public transport:

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.

Metrics i HOUSE UNIT
$630,000 $460,000
0.00% -0.86%
-4.18% -0.54%
6.93% 5.30%
$375 $343
156 35
3.10% 3.87%
68.7007874015748 57.1818181818182

Source: Monthly data update for Oct 2019 as supplied by CoreLogic. Data is reported to the period ending Jul 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Good (H), Good (U)
Find a mortgage broker in Altona Meadows VIC
Demographics
Total population 18745
Median household income ($/weekly) 1227
Median age of persons 37
Median housing loan repayment ($/monthly) 1500
Average household size 2.7
  • Census Count Percent(%)
    5-14 years 2017 10.8
    25-34 years 2849 15.2
    35-44 years 2852 15.2
    45-54 years 2916 15.6
    55-64 years 2199 11.7
    Others 5914 31.5
    Age Group
    Census Count Percent(%)
    Registered Married 6911 47.9
    Not Married 6391 44.3
    Defacto Relationship 1130 7.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 11215 63.2
    Indonesia 673 3.8
    Netherlands 503 2.8
    United Kingdom 661 3.7
    Other 959 5.4
    Others 3733 21.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 747 4.3
    Christianity 11750 68.2
    Hinduism 382 2.2
    Islam 830 4.8
    No Religion 3205 18.6
    Others 323 1.9
    Religious Affiliation
  • Census Count Percent(%)
    $400-$599 587 9.9
    $1,000-$1,249 635 10.7
    $1,250-$1,499 630 10.6
    $1,500-$1,999 844 14.2
    $2,000-$2,499 646 10.9
    Others 2609 43.8
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 5879 39.8
    Not in the labour force 5098 34.5
    Employed, worked part-time 2583 17.5
    Unemployed, looking for work 634 4.3
    Employed, away from work 569 3.9
    Person Characteristics
  • Census Count Percent(%)
    Professionals 1350 15.0
    Technicians & trades workers 1438 15.9
    Clerical & administrative workers 1542 17.1
    Machinery operators & drivers 998 11.1
    Labourers 1067 11.8
    Others 2627 29.1
    Occupation
    Census Count Percent(%)
    Pre-school 244 6.1
    Infants/Primary 1251 31.4
    Secondary 1147 28.8
    Technical or Further Educational Institution 383 9.6
    University or other Tertiary Institutions 729 18.3
    Others 224 5.6
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 16507 93.2
    Flat, unit or apartment 900 5.1
    Semi-detached, row or terrace house, townhouse 307 1.7
    House or flat attached to a shop, office 5 0.0
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Fully owned 2411 37.3
    Being purchased 2364 36.5
    Rented 1676 25.9
    Other tenure type 17 0.3
    Tenure Type
Census 2011, ABS
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