Property investments in ALTONA did not fare well against the rest of the country last year, registering a median home price decrease of 14.72%.
Figures from the previous quarter show that capital gains for real estate buyers in the territory are low, as opposed to average gains per annum over the past five years.
Based on its average 5-year and quarterly capital gains ALTONA, 3018 saw average growth in the long term.
Real estate investors could earn a rental income of $450 based on current median home prices for the suburb.
It is expected, nonetheless, for properties to spend some time on the market prior to a successful sale. homes and units usually stay on listing for an average of 53.7 days.
Besides that, the Australian suburb also delivered a stronger performance in contrast to other Australian suburbs in terms of appreciation of property value.
Property investors perceived the median home price rise to $935,000.
ALTONA ranks 442nd on the list of best yielding suburbs for rental properties in VIC, posting a 2.5% return.
Profits due to an upward trend in home prices in ALTONA, 3018 averaged 9.66% per annum over a 3-year period.
Average weekly rents on listings have reached the $360 mark, reflecting a 2.97% increase in returns based on the current median price in ALTONA.
An average of 10.67 real estate transactions take place per month in ALTONA which translates to 128 per annum.
128 properties were sold in ALTONA during the past year, making it the 347th most active market in VIC based on total real estate transactions.
ALTONA, 3018 places 218th in Australia based on median property value growth during the quarter.
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