By NICOLE VALICEK
HOUSE prices in Hobsons Bay have risen slightly across the board, but that hasn’t deterred buyers appeal.
Figures released last week from the Real Estate Institute of Victoria (REIV) June quarter reveal that house prices in Altona, Altona North and Newport have experienced slight increases.
Median house prices in Altona and Altona North were recorded as $572,500 and 490,000 respectively in the June quarter this year.This is compared to the recorded median house price in Altona of $560,000 up 6.10 per cent change from the previous 12 months.
Altona North’s June 2013 median house price was recorded at $490,000 a slight 4.9 per cent jump compared to $470,000 in the March quarter this year. Newport house prices also jumped by 6.5 per cent to $671,000 in the June quarter compared to $665,000 recorded in March.
Williamstown was the only suburb in Hobsons Bay that experienced a slight decrease in house prices dropping from $890,000 recorded in March to $868,000 in this quarter.
REIV spokesman Robert Larocca said Altona and surrounding suburbs have very good prospects given their location alongside the Bay and with close proximity to the CBD.
“All the growth going on is in the western corridor more generally as it continues to grow established suburbs in inner western areas will become more attractive for investors the same way we have seen in the east,” Mr Larocca said.
“Rapid price growth is not always good long term, (a moderate growth is) reflective of a healthier market.”
Hocking Stuart Altona director Anthony Anile said they have been tracking the quarterly results and have noticed a trend over the past three years that shows a spike in median house prices for this quarter.
“It is still is a good opportuntiy to buy into the West.”
