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Alt North

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Alt North · Altona North, Victoria · A question for Perth homeowners

Perth boomed. Melbourne did not. Where does your equity work next?

Perth dwelling values rose 79.7% in the five years to August 2026. Melbourne's fell 3.9%. Perth now sits 21% above Melbourne; five years ago it sat below it. If you hold Perth equity, the question is whether the next dollar goes where the gain has already happened. We are not forecasting Melbourne. We are showing you what a new build there costs and how it scores.

Five-year change in dwelling values

Capital city medians, Cotality Home Value Index, five years to 31 August 2026

PerthMedian $999,987, 3.2% below peak
+79.7%
BrisbaneMedian $1,080,142
+64.1%
SydneyMedian $1,222,718
+5.6%
MelbourneMedian $786,718, 6.8% below peak
−3.9%

Cotality Home Value Index, released 1 September 2026, data to 31 August 2026, dwellings. Past performance is not a guide to future performance. General information only, not advice.

Get the 60-point Alt North score

Twelve pages on one Melbourne new build, every assumption printed, from holding costs to the rent appraisal. It arrives by email.

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  • Read it before you speak to anyone
  • No call until you ask for one
  • The same report we give our own clients

General advice only. We do not sell your details, and we do not pass them to the developer without your say-so.

The project, in one screen

Alt North

Altona North, Victoria

Altona North sits in Melbourne's Inner West, about 10km from the CBD. It is an established suburb, not a greenfield estate: the shops, the schools and the train line are already there, and Alt North is being built inside one of the few master-planned precincts of its size anywhere in Melbourne's inner suburbs.

We researched the suburb before we looked at the project. Altona North has a published suburb report on this site, scored on 30 public measures across supply, population, housing, employment, resources and education, and the project itself has been through the 60 data point review process. The score you are downloading is the result.

Sixty brand new three-bedroom townhouses, from $850,000, with the precinct's new town centre, parks and streets being delivered around them. Few projects in the inner suburbs can offer new build depreciation, new build tax treatment and an established location at the same time. This one does.

Alt North corner townhouses, artist's impression
From
$850,000
Three-bedroom townhouse, release price. To be confirmed in writing before launch.
Where
10km west of the Melbourne CBD
What
60 brand new three-bedroom townhouses
The score
Twelve pages. Every assumption printed on the page, from holding costs to the rent appraisal.
Get the score
Alt North street, artist's impression
60 brand new three-bedroom townhouses
Artist's impression. Landscaping and finishes indicative.
The equity question, in four numbers

Perth has run. Melbourne has not. Where does the next dollar go?

+79.7%
Perth dwelling values, five years to August 2026. Now about $1 million.
−3.9%
Melbourne over the same five years. Median $786,718, 21% below Perth.
4.0%
Melbourne gross rental yield, the highest of the four largest capitals. Perth 3.9%.
1 July 2027
Negative gearing becomes new-build only for new purchases. Alt North qualifies.

Cotality Home Value Index to 31 August 2026; 2026-27 Federal Budget. We are not forecasting Melbourne. Every current forecaster has it flat to falling in 2026, and the case here is price, yield and tax treatment, not a bounce.

PORT PHILLIP BAY5 km10 kmMelbourne CBDWilliamstown $1.46mNewport $1.15mYarraville $1.16mSeddon $1.18mALT NORTHfrom $850kbrand new, 3 bed10 km

Schematic, straight-line distances. Neighbouring figures are Domain median sold prices for three-bedroom houses, last 12 months. Alt North is a release price for a brand new three-bedroom townhouse, not a median.

Perth against Melbourne

Dwellings, Cotality Home Value Index to 31 August 2026

Median dwelling, Perth
$999,987
Median dwelling, Melbourne
$786,718
Ten years, Perth
+102.6%
Ten years, Melbourne
+26.6%
Gross rental yield, Perth
3.9%
Gross rental yield, Melbourne
4.0%
Current 2026 forecasts, Melbourne
−8% to −4%

Forecast range: Domain (June 2026), KPMG (August 2026), ANZ (August 2026), Westpac (May 2026). Third-party opinions that have frequently been wrong, quoted here so you can see them, not as a prediction.

Alt North townhouse facades, artist's impression
Why Altona North

A new precinct, inside an established suburb. That almost never happens.

Most new precincts are built on the city fringe. Alt North sits inside the Altona North Comprehensive Development Plan: 66 hectares of former industrial land 10km from the CBD, gazetted in 2018, with a new town centre, parks and streets funded as part of the plan.

New amenity, inside a suburb where the schools, shops and freeway are already there. That is the combination a tenant pays for and an investor rarely gets at a new-build price.

New town centre10,000m2 retail, service and office
8.9ha of new parksOpen space across the precinct
1,000+ local jobsRetail, service and office
Schools already hereThree inside Altona North
West Gate FreewayWest Gate Tunnel open since Dec 2025
10km to the CBDInner West, Hobsons Bay
66ha
Master-planned precinct, 10km from the CBD
~3,000
New homes planned across the precinct
8.9ha
New parks and open space
$55.1m
Developer-funded transport and community infrastructure

Altona North Comprehensive Development Plan, Victorian Planning Authority. Figures are plan targets for the whole precinct, not for Alt North alone.

Questions we get from interstate

Before you ask for the score

Are you saying Melbourne is about to boom?

No. Every current forecaster has Melbourne flat to falling across 2026, and the last public catch-up call for Melbourne was wrong by ten to fifteen percentage points within the past year. The case on this page is price, yield, a new precinct inside an established suburb, and the 1 July 2027 tax treatment of new builds. If you are buying because you expect Melbourne to bounce quickly, that is a different conversation, and the discovery session is the place to have it.

Why not just buy another property in Perth?

You can, and for some people that is the right answer. The question the score helps with is what the next dollar of equity buys in each place: Perth's median dwelling is now about $1 million after a 79.7% five-year run, Melbourne's is about $787,000 after falling 3.9%, and the gross yields are 3.9% and 4.0% respectively. Whether that trade suits you depends on your income, your loan and your timeframe, which is what the discovery session is for.

How does buying in Melbourne work from Perth?

The discovery session is by video. Our Melbourne team walks the site and reports back with photos and video, contracts go to your conveyancer, our own mortgage brokers structure the loan under best interest duty, and we introduce a local property manager before settlement. Most interstate clients do not visit before they buy.

What happens after I download the score?

You get the PDF by email, followed by a short series of emails over about four weeks that walk through the research behind it. Nobody calls you unless you ask. If you want to talk it through, you can book a discovery session with Cam or Adam from any of those emails or from this page.

Why Oli Property

Research first. Property second.

Oli Property is part of the Oliver Hume Property Group, which has sold Australian residential property since 1954 and helped over 290,000 Australians buy and invest in new property.

Our research, led by Chief Economist Matt Bell, covers 4,800 suburbs and is relied on by government and ASX 200 companies. Every property we put in front of a client has been through our 60 data point review process first.

We have no reason to push you toward one outcome over another, which is why we run the numbers against our 60 data point review process, across 4,800 suburbs. If this project does not suit your position, we will tell you, and we will tell you why.

1954
Oliver Hume founded
290,000+
Australians helped to buy and invest in new property
4,800
Suburbs covered by our research
60+
Data points in every property review
One page, one offer

Read it before you speak to anyone.

The score is free, it arrives by email, and nobody calls you unless you ask. If you would rather talk it through first, a discovery session with Cam or Adam is about an hour by video.

Cameron YatesAdam Duster
Cameron Yates and Adam Duster, Property Investment Specialists
Get the scoreBook a discovery session
1300 881 780oliproperty.com.auMelbourne: Level 2, 4 Riverside Quay, Southbank VIC 3006Sydney: Level 24, Tower 3, 300 Barangaroo Ave, NSW 2000PrivacyDisclaimer

About the figures on this page

Capital city figures are Cotality Home Value Index dwellings to 31 August 2026 and are compared at city level only; suburb medians from other providers are not compared with them. Forecasts quoted are third-party opinions that have frequently been wrong and are shown as context, not as a prediction. Nothing on this page is a representation about future Melbourne values. Alt North's $850,000 is a release price for a three-bedroom townhouse, subject to written confirmation.

General advice disclaimer

The information on this page has been prepared as a general guide only and does not constitute advice. It has been prepared without taking account of your objectives, financial situation or needs. Before acting on any information you should consider its appropriateness having regard to your own objectives, financial situation and needs, and seek independent advice from a qualified professional. Any forward looking statements are estimates only, are affected by a significant number of unpredictable factors, and there are no guarantees they will be achieved. Property markets perform at different rates and past performance is not an indicator of future performance. Taxation outcomes depend on individual circumstances and you should speak with a qualified accountant. Medians quoted are rolling twelve month figures from the named provider and move over time; the from price is a release price, not a median.

Mortgage brokerage is provided by MyFirstLoan.au Pty Ltd ACN 168 808 946, Australian credit representative number 564038 of Allied Financial Consulting Pty Limited ACN 059 732 419, ACL 393845. Loans are structured and managed by Homestar Finance, ACL 390860.

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