Altona

POSTAL CODE: VIC, 3018

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Property investments in ALTONA fare well against the rest of the country last year, registering a median home price increase of -0.85%.

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 $622.5 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 63.7 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 $1,167,500.

ALTONA ranks 460th on the list of best yielding suburbs for rental properties in VIC, posting a 2.77% return.

Based on its average 5-year and quarterly capital gains ALTONA, 3018 saw average growth in the long term.

Besides that, the Australian suburb also delivered a weaker performance in contrast to other Australian suburbs in terms of appreciation of property value.

Profits due to an upward trend in home prices in ALTONA, 3018 averaged 0.6% per annum over a 3-year period.

Average weekly rents on listings have reached the $520 mark, reflecting a 3.84% increase in returns based on the current median price in ALTONA.

An average of 11.08 real estate transactions take place per month in ALTONA which translates to 133 per annum.

133 properties were sold in ALTONA during the past year, making it the 343rd most active market in VIC based on total real estate transactions.

ALTONA, 3018 places 208th in Australia based on median property value growth during the quarter.

Surburb overview

Altona, bearing the postcode 3018, is a coastal suburb located approximately 13 kilometres southwest of Melbourne's Central Business District (CBD). According to the 2021 census, it has a population of 11,490 residents. The suburb is characterised by a diverse demographic, including young professionals, families, and retirees, with a median age of 42. Most of the population comprises couples with children, reflecting a family-friendly environment.

Public transportation in Altona is well-developed, offering residents convenient access to various parts of Melbourne. The Altona railway station on the Werribee line serves the suburb, facilitating easy travel to and from the CBD and surrounding areas. Additionally, several bus routes operate through Altona, providing further connectivity options.

Altona has various essential establishments, including educational institutions, healthcare facilities, and shopping centres. The suburb boasts a variety of cafes, restaurants, and boutique shops, contributing to a vibrant local economy. The presence of parks and recreational facilities enhances the quality of life for residents, offering spaces for leisure and community activities.

Recreational activities are abundant in Altona, with numerous parks and green spaces available for public use. The picturesque Altona Beach provides swimming, picnicking, and outdoor sports opportunities. Additionally, the suburb's proximity to Cherry Lake offers residents access to walking and cycling trails, catering to active individuals seeking to maintain a healthy lifestyle.

Altona's blend of urban convenience and community-oriented living makes it desirable for diverse residents.

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