Altona, Vic
- Thread starter eden
- Start date
Just bringing up this old thread...
This is me just being a sticky beak!
we all know about spill over suburbs, and a lot of the bayside suburbs have shot up, which is how the world works,
but I just did a quick search, and it seems that you can still get properties in altona relativly affordably, obviously the ones on the esplanade are $800k+-$1.1mill. but if you get a map of melbourne, and draw a circle out it seems that altona has not at all caught up, yes it has gone up a fair bit i think it was 187% in the 10 years ending 2007 or something....
but it just seems to be the best value for money for those like myself who can't afford i nthe portseas williamstown type suburbs.
I would like to retire one day and have a beachside property without having tot drive 1-3 hours just to get there!
I know altona is still plagued with industrial areas etc. etc. etc.
however so was brunswick until just a few years ago,
to me it just seems like a goldmine waiting to happen if you are wanting LONGTERM CG growth...
what am I missing here, admittedly I don;t know much about Altona, but it s eems that for $350k you can get a 3 bdr, fairly close to the water!
just seems to be quite a good opportunity...
This is me just being a sticky beak!
we all know about spill over suburbs, and a lot of the bayside suburbs have shot up, which is how the world works,
but I just did a quick search, and it seems that you can still get properties in altona relativly affordably, obviously the ones on the esplanade are $800k+-$1.1mill. but if you get a map of melbourne, and draw a circle out it seems that altona has not at all caught up, yes it has gone up a fair bit i think it was 187% in the 10 years ending 2007 or something....
but it just seems to be the best value for money for those like myself who can't afford i nthe portseas williamstown type suburbs.
I would like to retire one day and have a beachside property without having tot drive 1-3 hours just to get there!
I know altona is still plagued with industrial areas etc. etc. etc.
however so was brunswick until just a few years ago,
to me it just seems like a goldmine waiting to happen if you are wanting LONGTERM CG growth...
what am I missing here, admittedly I don;t know much about Altona, but it s eems that for $350k you can get a 3 bdr, fairly close to the water!
just seems to be quite a good opportunity...
P.S if someone could give me pointers on a good way to value properties simply based on proximity from the beach would be great.
I mean, Im using altona as an example, the properties on the esplanade have the beach view, hwoever, i guess if you lived 2-4 houses innerland, then the views would be non existant, but being close to the beach would be a premium, so how do you work/gauge this...
I mean, Im using altona as an example, the properties on the esplanade have the beach view, hwoever, i guess if you lived 2-4 houses innerland, then the views would be non existant, but being close to the beach would be a premium, so how do you work/gauge this...
Here are some photos of the beach in Altona:
http://altonahomestead.awardspace.com/beach.htm
You can also use Street View in Google Maps to look around the beach:
http://maps.google.com.au/maps?f=q&hl=en&q=esplanade+altona&ie=UTF8
Sorry but you can't compare the quality of the beaches, properties and township between Portsea and the like to Altona. In addition. the Peninsula has the bay (front beach) and the ocean (back beach) within a couple of minutes of drive, something the bayside suburbs don't have. In addition i could bet a bit of money that the water quality is way better up that way than Altona.
Besides, my beach house is 1.5 hours drive. I like it, it's home away from home and would drive that far alone for the fruit shop in Sorrento. You ain't had the juiciest fruit until you have been there.
I don't think your missing anything. Altona is industrial and that is the difference between that and Brighton, Black Rock etc. This is reflected in the difference in the price between them also.
I was confused as I did not think that Altona is considered Bayside?
It seems a lot of the comments about Altona Beach seems to be coming from someone who last visited the area at least more than a year or 2 ago.
Altona has undergone a very significant transformation (both physical and demographically). The beach has been cleaned up and renovated, trendy cafes and rests are popping up, etc. But most importantly, the people living there has changed a lot. Many young families, professionals, toorak-type millionaires, etc are popping up in the area.
So if you haven't been to Altona recently in the past 12 mths or so, I would invite you to go down and have a look for yourself.
Altona has undergone a very significant transformation (both physical and demographically). The beach has been cleaned up and renovated, trendy cafes and rests are popping up, etc. But most importantly, the people living there has changed a lot. Many young families, professionals, toorak-type millionaires, etc are popping up in the area.
So if you haven't been to Altona recently in the past 12 mths or so, I would invite you to go down and have a look for yourself.
I had a look at googlemaps, originally and i thought that the beaches weren;t too bad,
sure there aren't cafes and trendy stuff yet, but I believe its only a matter of time before it does become a "trendy" "beachside suburb"
a few years ago I would have said that about brunswick and coburg, YUK, now its completely changed.
I think its just the sign of changing times that a suburb so close to the city next to the beach will change unless there is some real turnoff like Asbestos or pollution or similar....
Plus the beaches according to what I saw on googlemaps and the linke provided a few posts ago, didn't make it seem that bad, quite clean, a fair bit of sand!
sure there aren't cafes and trendy stuff yet, but I believe its only a matter of time before it does become a "trendy" "beachside suburb"
a few years ago I would have said that about brunswick and coburg, YUK, now its completely changed.
I think its just the sign of changing times that a suburb so close to the city next to the beach will change unless there is some real turnoff like Asbestos or pollution or similar....
Plus the beaches according to what I saw on googlemaps and the linke provided a few posts ago, didn't make it seem that bad, quite clean, a fair bit of sand!
I have a friend who's renting in Rosanna and will love to purchase his PPOR there. Just had a look from domain.com.au - median house price for Rosanna is now $592.5 K while that for Altona is $488K. Don't know much about Rosanna so can't comment whether that is fair value. But definitely Altona is cheaper than most eastern, north-eastern and even northern suburbs. For its proximity to the city and sea, I think the lower median house price provides potential for future growth.
Altona is geographically constrained from expansion by the sea in the South, industrial areas in the North and bounded by creeks in the East and West. The only way to increase the number of residential units is by redevelopment of old housing. I think this constraint will limit the supply of new housing and help to confer some sort of "scarcity" value.
Most of the houses in Altona are very old - about half are weather-board houses so this means there exists great potential for renovation or redevelopment. Hence, its median house price is not really comparable to those in newer suburbs where the housing stock is much newer.
yep, I reckon strictly from a theoretical view, you've got a suburb that is fairly close to the city, and thats right on the beach and it hasn't shot up anywhere near some of the other suburbs with the same proximity from the CBD,
you've got fairly limited supply, which is always good for IPs for CG
the houses are old, so you can either renovate or tear down and rebuild, which is another BIG potential CG for IPs
sure it might have factories and industrial buildings but I think these will simply dissappear over time, and it seems that the prices are even lower then the surrounding western suburbs, so in the long term I think its a goldmine, just my personal opinion,
if the prices were say $400-$600k, then I still would probably still say it would be a fairly good buy, but obviously not a goldmine or anything....
maybe one day, I'll buy one or two and keep it as my future holiday house!!!
P.S I know someone who has lived all their life in the Rosanna area, $542k might be a bit high, but Im not too sure, I can ask
Went to Altona Beach for the first time today and I must say I was pleasantly surprised. It's not exactly Brighton or St Kilda but it's not bad at all.
Took a couple of photos.
http://www.flickr.com/photos/30256934@N04/3123991961/
http://www.flickr.com/photos/30256934@N04/3124817744/
Took a couple of photos.
http://www.flickr.com/photos/30256934@N04/3123991961/
http://www.flickr.com/photos/30256934@N04/3124817744/
hmm. ive never been to altona before but the photos do make it look really nice,
not too sure if the smell that someone mentioned is normal or just what beaches smell like!
not too sure if the smell that someone mentioned is normal or just what beaches smell like!
