Altona

Altona is a vibrant suburb with a diverse population. It has a mix of age groups, with a significant number of residents aged between 45 to 64 years. The suburb offers various commuting options, with a higher number of residents using motor vehicles. Altona has a good proportion of residents working as professionals, managers, and technicians/tradeworkers. The educational advantage of students in government schools is relatively high. For houses, Altona presents a stable market with a moderate yield. With a high sale price IQR ratio, it may attract renovators looking for opportunities. The suburb has shown consistent growth in median house prices over the past decade. On the other hand, units offer a slightly higher rental yield compared to houses, with a lower vacancy rate. Units have a moderate sale price IQR ratio, indicating potential for value appreciation. Altona is a desirable suburb for both homeowners and investors alike. With strong demand indicated by the market absorption rate, properties in Altona offer long-term growth potential. The suburb's convenient location, good infrastructure, and diverse demographic profile make it an attractive place to live and invest. Sources: - proptechdata.com.au - Australian Bureau of Statistics (ABS) Census 2021 - Australian Curriculum, Assessment and Reporting Authority (ACARA) School Profiles 2022