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Altona

POSTAL CODE: VIC, 3018
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Property investments in ALTONA did not fare well against the rest of the country last year, registering a median home price decrease of -1.88%.

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 $620 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 64.9 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 $1,177,500.

ALTONA ranks 494th on the list of best yielding suburbs for rental properties in VIC, posting a 2.74% return.

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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