Project Sub Urban
By the bay with the lifestyle: Investing in Altona
John Shadbolt, johnshadbolt.com
In an ongoing series of Melbourne suburb profiles, Jeff Grochowski from Accrue Real Estate discusses the lifestyle and property investment potential of Altona.
Altona is a western suburb about 13 km south-west of Melbourne city. A large suburb, it is made up of low density residential and mixed industry. A key feature of the suburb is Altona Beach, one of only two swimming beaches in the western suburbs.
Altona is serviced by three railway stations: Altona, Westona and Seaholme. Each of these is on the Altona loop line which runs between Altona Junction on the Werribee railway line and Laverton railway station. There are also four bus routes running in the area (411, 412, 415 and 903). The Hobsons Bay Coastal Trail also runs through Altona, providing a shared path for cyclists and pedestrians. Popular for recreation, the trail follows the coast through Altona.
With the seaside locale, easy access to public transport and proximity to Melbourne’s CBD, Altona is a sought after suburb for laying down the foundations of a family. Altona is a large suburb but still has a community feel. There are always lots of locally organised events, from movies by the bay, to carnivals and bands; most of these are free.
The picturesque RJ Logan reserve, the beach, the wetlands, the off-the-leash dog parks and Pier St provide a life-style for singles and families. There are a number of primary and secondary schools, giving families the ability to find the right fit.
Unit prices in Altona have grown by 21.89% in the past 3 years. The median weekly rental price on units is $385 and the rental return is 3.20%. Altona is a sought after destination for those beginning to build a family and those with young families, meaning a high rental demand and diversity of tenant.
With access to facilities that support lifestyle and family, and close proximity to the city centre, Altona could be the place for your next investment.
Contact Accrue Real Estate to learn more about Altona and other Melbourne property investment opportunities.