At number 624th in the list of Australian suburbs ordered by increase in median house value over the last year, Altona Meadows, 3028 is in the top 20% with a property value increase of 18.12% recorded in median house prices.
The five-year average increase in median property values for Altona Meadows,3028 has given property investors a potential capital gain of 57.17% across each of those five years.
LACK OF BUYER INTEREST may well be the reason that Altona Meadows is offering property investors an average of -3.33. This rate of discount on properties puts Suburb at number 66th in terms of most discounted suburbs in VIC
Situated 17.36km from the CBD, Altona Meadows is one of Hobsons Bay localities in the postcode 3028.
Property value increases in Altona Meadows have tracked higher than the VIC average of 6.72% over the last 12 months.
While Altona Meadows,3028 ranked number 61th in VIC for increase in median house value (annualised) increase, it is ranked 85th over the last 5 years.
On average over the past year, suburb has had 4.17 sales per month, which equates to 50 per year.
Altona Meadows, 3028’s gross rental yield is 3.99%
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.Full summary
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.