Property investments in ALTONA fare well against the rest of the country last year, registering a median home price increase of 14.2%.
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 63.6 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 $945,000.
ALTONA ranks 461st on the list of best yielding suburbs for rental properties in VIC, posting a 2.48% return.
Profits due to an upward trend in home prices in ALTONA, 3018 averaged 8.17% per annum over a 3-year period.
Average weekly rents on listings have reached the $370 mark, reflecting a 3.01% increase in returns based on the current median price in ALTONA.
An average of 9.75 real estate transactions take place per month in ALTONA which translates to 117 per annum.
117 properties were sold in ALTONA during the past year, making it the 358th most active market in VIC based on total real estate transactions.
ALTONA, 3018 places 188th in Australia based on median property value growth during the quarter.
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