- suffragetteMember@suffragetteJoin Date: 2006Post Count: 20
hi everyonewe're in the process of looking for our first home with a budget of around 250-300Kwe started looking in altona. am wondering whether anyone has any advice/ comments about the area? which area is good and which to avoid? i've done a search on the forum, but havent found anything specific on altona yet.thanks in advance! i really appreciate it!HutchParticipant@hutchJoin Date: 2004Post Count: 137
you'll find the Altona North median slightly lower than true Altona near the water/township. The Altona median has shot up in the last few years due to a few select properties along the Esplanade getting record $1m+ results and developers looking for large blocks within 10k radius of Melb CBD. Also the average block size in Altona/Altona Nth is alot larger than its Altona Meadows, thus being easier to develop (but less stock). Altona Meadows is newer than these areas, with lower prices, but also less CG. Don't discount the Newport/Altona North, Spotswood areas either. Altona North heading towards Newport will have good CG in the next few years. At your current budget it might be hard though unless you are willing to go further from the water.
(Speak to Voyo from Mancini RE in Pier st. he may be able to help also).
Hope this helps
HutchbeaniemonsterParticipant@beaniemonsterJoin Date: 2006Post Count: 48
You would not get into altona for 300k (not even land value anymore) in the last 6mths at least it is booming.
Altona meadows is a better bet for that money and i believe room to grow (last zone 1 railway and last suburb part of hobson bay council).
Altona median has not gone up due to the esplanade prices!!! A good house or block goes within a week and for at least $100k over the asking price. (Even a unit in a bad location sell for $300k) Altona meadows still goes for about the asking price.
I personally wouldn't recommend mancinis!!! can pm me if you want more details on that!
i live in Altona and know the market very well here
cheers & good luck.emeraldzMember@emeraldzJoin Date: 2007Post Count: 5
From my personal experience I would not recommend Mancini's, but of course it is up to you if you choose to do so!beaniemonsterParticipant@beaniemonsterJoin Date: 2006Post Count: 48
Altona / Altona Nth / Altona Meadows are all completely different suburbs. It's like comparing Williamstown with say yarraville. Altona has properties selling right now for $500-$2mil where as altona meadows the top price is 500k roughly. Altona north top price is around $450. but they all buy you completely different things. $500k in altona will buy you a knock down on 700sqm, A 4bd brick home on 700sqm in Altona Nth and a very nice brand new 4bd home on about 700sqm in altona meadows. You need to decide what you want, can you live in an older house and do it up over time or do you want brand new now. would a townhouse suit your needs?
Back to your original question Suffragette – go to realestate.com.au and look up altona meadows and then look at properties in Altona Bay (which is closest to Altona but seperated by the golf course and Apex park along the beach) Houses are older but worth a bit more due to the land. A friend of mine just bought a house in Seabrook, it's not bad for your buck. just a thought. PM me if you need more info or help or recommended reputable agents. I'm happy to help.suffragetteMember@suffragetteJoin Date: 2006Post Count: 20
because of what we can afford, we're not too fussy with the location (being near the water etc), but we also dont want to end up choosing the wrong area… can anyone suggest which street to avoid?is there more land available around altona meadows? hence, the lower price and lower capital growth?thanks beaniemonster, i will look up altona bay & seabrook as wellHutchParticipant@hutchJoin Date: 2004Post Count: 137
Don't get me wrong. I certainly wasn't advocating or waving the banner for Mancini RE (or any other) to purchase. Just to have a contact of a guy that has been in that market for over 20 years and to get advice on those three markets that were mentioned.
I main reason I was recommending contacting him is because I have purchased 4 IPs off them in 3 years and in turn used them as rental mangers on those, and have been happy (so far). It may be a different story if you are selling.
As I said if you take out the recent abnormal Esplanade (and large development blocks) sales out of the last 3 qtr figures it drops the Altona median value back to more realistic figures ($450-500k+).