Altona is a coastal suburb located approximately 13 kilometers southwest of Melbourne's central business district (CBD) in Victoria, Australia. Situated on the shores of Port Phillip Bay, Altona boasts scenic waterfront views, sandy beaches, and a relaxed coastal atmosphere.
Historically, the area was inhabited by the Wurundjeri people before European settlement, and later developed as a residential and industrial hub during the mid-20th century.
An interesting fact about Altona is its rich industrial heritage, with historical landmarks such as the Altona Refinery and the Altona Homestead showcasing the suburb's past.
While Altona has undergone significant gentrification and urban renewal in recent years, it retains a sense of community and charm, attracting residents seeking seaside living with urban conveniences.
Lifestyle
Altona offers residents a laid-back coastal lifestyle with access to parks, reserves, and recreational facilities. Altona Beach is a popular destination for swimming, sunbathing, and water sports, while nearby parks such as Cherry Lake and Altona Coastal Park provide opportunities for picnicking, walking, and birdwatching.
Residents enjoy a variety of lifestyle activities, including walking, jogging, and cycling along the scenic foreshore and coastal trails. The suburb's café and dining scene is thriving, with waterfront eateries, boutique cafes, and multicultural restaurants serving up delicious cuisine and stunning bay views.
Annual events and festivals in Altona include the Altona Beach Festival, featuring live music, food stalls, and family-friendly activities. Pets are popular in the suburb, with many residents taking advantage of pet-friendly parks, beaches, and walking trails for outdoor adventures with their furry friends.
School Zones
Public primary schools in Altona include Altona Primary School and Altona P-9 College, providing quality education for local families. Nearby Catholic primary schools include St. Mary's School in nearby Williamstown.
For secondary education, students may attend Altona College or consider neighboring high schools such as Williamstown High School or Footscray City College.
Exclusive independent private schools that cater to the wealthy include The King's School and Altona Grammar School, located in nearby suburbs.
The closest school for students with special needs is Altona Special School, offering tailored education and support services to students with disabilities.
Demographics
Data from the ABS census shows strong growth in the median weekly household income in Altona between 2006 and 2021doubling from $891 to $1,826, reflecting the suburb's popularity and desirability. The percentage of families in the suburb is relatively high, with a mix of young families, retirees, and professionals.
Major demographic groups in Altona include individuals of Anglo-Celtic descent, as well as a growing population of multicultural backgrounds. The suburb's average income is slightly above the Australian average, indicating a mix of middle to high-income earners.
While the suburb's wealth may be increasing significantly over time, its lifestyle amenities and coastal location continue to attract residents.
Employment
A significant percentage of Altona residents are employed in professional, trade, and service industries, reflecting the suburb's diverse and growing economy. Professionals and managers represent 45% of the employed population.
The main employers in the area include manufacturing companies, healthcare providers, and retail businesses.
The main industries of employment in Altona include manufacturing, healthcare, and retail trade. Many residents work in nearby industrial parks, commercial precincts, and retail centers, taking advantage of convenient transportation options and employment opportunities.
Emerging employment trends in the suburb include growth in the healthcare sector, technology, and hospitality industries.
Transport
Altona is well-connected by public transport, with regular bus services, train lines, and cycling routes linking the suburb to Melbourne's CBD and surrounding areas.
The Altona railway station provides convenient access to the city's rail network, connecting residents to regional destinations and major transport hubs.
Additionally, the suburb is served by major roadways such as the Princes Freeway and Millers Road, offering easy access to Melbourne Airport and other parts of the city.
Private transport is popular among residents, with many households owning one or more vehicles for commuting and leisure activities.
Shopping Centre's, Restaurants & Facilities
Altona boasts a range of shopping precincts, retail outlets, and dining establishments, providing residents with convenient access to everyday essentials and leisure amenities. The walk score of the suburb is favorable, with many amenities within walking distance of residential areas.
Popular shopping destinations in Altona include Pier Street, offering boutique shops, specialty stores, and cafes. Residents can also explore nearby retail hubs such as Altona Gate Shopping Centre or Williamstown's Nelson Place for major shopping centers and dining options.
Local facilities in Altona include fitness centers, community spaces, and recreational venues, catering to a variety of lifestyle interests and activities. Residents often engage in sports, fitness classes, and social gatherings at local parks, sporting clubs, and entertainment venues.
Development
Dwellings in Altona range from traditional weatherboard homes and townhouses to modern apartment complexes and waterfront properties. Common developments in the suburb include infill housing projects, medium-density developments, and apartment buildings catering to diverse housing needs.
While knock-down rebuilds, renovations, and redevelopments are relatively common in Altona, subdivision opportunities may be limited due to zoning regulations and land availability. Developments have occurred throughout the suburb, revitalizing its urban landscape and creating new residential and commercial spaces.
Capital Growth
Average capital growth for houses, townhouses, and units in Altona has been steady over the past decades, driven by factors such as population growth, infrastructure investment, and urban renewal initiatives.
Houses have performed at 9% over average, townhouses and units at 4%. Better pockets of the suburb for houses include streets closer to parks, transport links, and lifestyle amenities have performed at 12% for houses.
Factors driving capital growth in Altona include its proximity to Melbourne's CBD, coastal location, and lifestyle attractions. Main buyers in the suburb include first-home buyers, families, investors, and downsizers seeking seaside living with urban conveniences.
Cash Flow
The average cash flow for houses in Altona, as measured by yield, is competitive compared to other suburbs in the region, reflecting stable rental demand and property values at 3.2%. Townhouses and units also offer favorable yields for investors at 4.2%, with rental returns varying depending on location and property features.
Over the past decades, cash flow for properties in Altona has grown steadily, driven by factors such as population growth, rental demand, and property market dynamics. Common tenants of leased properties in the suburb include students, young professionals, and couples seeking convenient coastal living.
Rental Demand
Average vacancy rates for houses, townhouses, and units in Altona have remained relatively low over the past 10 years, indicating consistent rental demand and occupancy levels. They have averaged 1.9%.
Since the COVID-19 pandemic, vacancy rates may have fluctuated slightly due to changing market conditions and economic factors. Vacancy rates have been closer to 1.2% since the pandemic.
Major driving forces behind rental demand in Altona include its coastal lifestyle, proximity to amenities, and access to public transport.
Rental stock levels may have decreased in recent years due to increased demand from tenants and limited supply of new rental properties.
Why You Require a Buyers Agent in Altona
Competition in Altona's property market is fierce, with high demand and limited stock driving up prices. Stock levels are constantly low due to the suburb's desirability and potential for growth, making it challenging for buyers to secure properties without professional assistance.
A buyer's agent can provide valuable expertise and guidance in navigating the competitive market, identifying suitable properties, and negotiating favorable terms. Additionally, they can offer insights into unique opportunities and hidden gems within the suburb, helping buyers make informed decisions and secure their dream property in Altona.
Having a buyers agent in your corner is crucial to your success in Altona. Having the knowledge, strategy, access and negotiation ability will ensure you save thousands on the way in and make potentially millions in the future.
Why not seek Professional Advice from one of our Buyers Agents
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