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Altona, VIC 3018

If you’re looking to buy, rent, or invest in property, it’s important to do your research on the suburb first. This includes looking at house prices, real estate rental market data, and other advanced metrics. Here, we’ve compiled that information for Altona, VIC 3018 located in Melbourne to help you make an informed decision about your property choice in this suburb.





Market Snapshot

This page provides an overview of the area’s real estate market. The data in this snapshot illustrates typical price, median rent and gross yield metrics for this suburb. You are able to visualise these 3 key metrics as well as other important indicators in the dashboard section that follows.

Buy 

2BR

3BR

4BR

5BR

Rent 

2BR

3BR

4BR

5BR

Yield 

2BR

3BR

4BR

5BR

Buy 

1BR

2BR

3BR

Rent 

1BR

2BR

3BR

Yield 

1BR

2BR

3BR

Lower Risk RCS™

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Capital Growth RCS™

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Cashflow RCS™

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Essentials
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Yield chart
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GRC chart
Fundamentals
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IRSAD chart
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Renters to owners pie chart
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unit to houses pie charts
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Demand chart
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Inventory chart
Supply

Stock on Market

Inventory

Hold Period

Building Approvals

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SOM chart
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Inventory chart
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Inventory chart
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Hold chart
Demand

Days on Market

Vacancy Rate

Clearance Rate

Search Index

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DOM chart
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Inventory chart
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Index chart
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Auction chart

How was this calculated? Typical Price is a continuous metric calculated via a process called data fitting. Median Rent is weekly advertised rent based on rentals over the preceding 12 months. Gross Yield is Median Rent x 52 x 100 / Typical Price. To discover additional information, click the “i” icon in the top left corner of each graph or visit the Data Dictionary page.

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0 thoughts on “Altona, VIC 3018”

  1. The total adult population (15 years or older) of Altona 3018 VIC is 9,484, with a median age of 42. Of those, 45.91% are married, 13.04% are divorced or separated, 34.92% are single and 6.08% are widowed.

    The average household size is 2.3 people per dwelling, and the median household monthly income is estimated to be $9,760. The median monthly mortgage repayment for households in this suburb is $2,197 which is 22.51% of their earnings.

    Source: ABS Census Data (2021)

  2. Situated in Victoria, the suburb of Altona 3018 is a thriving neighbourhood, accommodating around 6973 households. In the third quarter of 2023, Altona’s property market has shown some interesting metrics that make it an area worth considering in a real estate investment portfolio.

    Typical house prices in this area are valued at around $1,240,900, with median weekly rents asked being roughly $518. This contributes to an indicative yield of 2.17%, though it slightly falls below the 3% threshold often taken as the minimum attractive market requirement for cash-flow centric property investors.

    Looking deeper into the socio-economic dynamics of the suburb, Altona scores a quite high IRSAD (Socio-Economic Score) of 1046 out of 1217, which would infer that the population generally resides in a favourable economic bracket. As for the renter to owner ratio, it sits at 31%, just exceeding the 30% threshold which is generally considered to be the point at which a market is oversaturated with rental properties. This could be indicative of potential future competition in the rental market.

    Altona also presents a units to houses ratio of 33%, which falls within the favourable range, reflecting a balanced market that is not overly saturated with rental properties. Unfortunately, the suburb’s affordability index is 50 years which is higher than the favourable 30 years, showing a decreased affordability in the area.

    Market supply metrics reveal an extremely low stock on market percentage of 0.28% for houses, indicating a highly favourable market condition by not being oversaturated with unsold properties. This complements nicely with the inventory level for houses at a mere 1.0 month, which categorises Altona as a favourable low supply market. The building approvals ratio for houses sits at a moderate 1.2%, ensuring it’s still favourable as per the 2% condition.

    In terms of market demand, houses in Altona take an average of 75 days to sell, which falls in the neutral range. Meanwhile, the combined vacancy rate for houses and units is at a splendidly low 1.39% indicating a high demand. However, the buy search index for houses is at a lower end of the scale at a value of 3, indicating possible limited demand from property buyers.

    Despite these variances, it’s important to keep an ongoing watch on market trends by using metrics such as the RCS (Relative Composite Score) by HtAG Analytics which combines over 80 different measures. This way, potential investors can make the most well-rounded decisions for property market investments in Altona 3018.

    It’s important to note that the above analysis provides a snapshot of current value metrics but doesn’t consider metric trends, which can also significantly influence investment decisions. Moreover, some metrics have greater importance than others based on various factors, a nuance that must be understood for a holistic analysis.

    Join HtAG Analytics to visualise these metrics trends, and gain a deeper understanding of their importance. By becoming part of HtAG Analytics, you will be empowered to make informed decisions, discerning which metrics are more significant in the context of your property investment strategy.

    This content serves to inform and does not constitute investment advice. Property investment involves risks and uncertainties, and professional advice should be sought before making any investment decisions. By leveraging expert guidance, potential investors can ensure a comprehensive understanding of the complex property investment landscape.

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