Buyers agent for Altona North VIC3025

Altona North sits 12 kilometres southwest of Melbourne's CBD within the City of Hobsons Bay, recording 12,962 residents at the 2021 census, up 6.7 per cent from 2016. The suburb spans 14.1 square kilometres with 21 parks covering 18.9 per cent of total area. The entire western part comprises the Altona North Industrial Precinct with construction, logistics, manufacturing, and heavy industry, while eastern residential sections undergo dramatic gentrification as young families discover CBD proximity and abundant amenities.

Industrial character dominates the suburb's identity. The former ExxonMobil Altona Refinery operated from 1949 as Australia's smallest refinery before closing in February 2021 after being deemed no longer economically viable. The facility employed 350 staff and supplied half of Victoria's refined fuel demand before conversion to the Mobil Melbourne Terminal for fuel import and storage. Demolition of tanks and former refinery infrastructure began in 2025, gradually changing the skyline. The Toyota Australia Altona Plant built vehicles from 1994 until 2017, now housing Victoria's only commercial hydrogen fuel station and manufacturing hydrogen fuel cell generators. Since 2018, parts of Altona North have undergone rezoning from industrial to residential zones.The defining transformation is Precinct 15, a 67-hectare urban renewal zone eventually including approximately 3,000 new dwellings plus office buildings, retail premises, and public areas. Stockland created Haven residential community while Mirvac leads development with The Fabric, a 350-million-dollar community with Stage 1 construction creating approximately 1,000 jobs. Full development horizon extends to 2038.

Demographics show median age 37, predominantly 30 to 39 years. Owner-occupation sits at 66 per cent with median monthly mortgage repayments from 1,800 to 2,399 dollars. Professional occupations dominate, reflecting gentrification attracting educated workers.

Daily life centres on Altona Gate and Millers Junction shopping centers with two Woolworths supermarkets, BWS, IGA, Second Avenue Grocers, and six-screen cinema. Paisley Park sporting complex hosts Altona Lakes Golf Club, Altona Badminton Centre with 12 courts, gymnasium, swimming pool, premier league soccer facility, bowling club, miniature railway, and lacrosse fields. Newport Lakes Reserve, dog park, and free weekly ParkRun serve the community. Williamstown Beach and Altona Beach sit within 10-minute drive.

Transport provides mixed access with no stations within suburb boundaries. Newport and Laverton stations serve as closest rail access. Bus routes 411, 412, 415, and 903 SmartBus connect surrounding areas. Direct West Gate Freeway access enables road commuting, positioned 30 minutes from Melbourne Airport.

The median house price sits around 904,000 dollars with negative 0.66 per cent annual growth and 0.11 per cent decline in most recent quarter. However, 184 house sales occurred over past year with properties selling within 48 days on average. Rental yields are 3.45 per cent for houses at 650 dollars weekly. Units show median 733,000 dollars with 66 sales annually, delivering stronger 4.14 per cent yields at 610 dollars weekly, reflecting investor interest in new Precinct 15 apartments.

Precinct 15 adds 3,000 dwellings to suburb of 12,962 residents, representing 23 per cent population increase through 2038. The refinery closure in 2021 and ongoing demolition removes major industrial employer but opens redevelopment possibilities while Mobil terminal and other industrial operations continue.

The trade-offs are clear. Altona North offers exceptional 12-kilometre CBD proximity with 10-minute drive to beach, Precinct 15 transformation adding 3,000 modern dwellings, Altona Gate and Millers Junction retail convenience, Paisley Park extraordinary recreation facilities, strong gentrification upgrading demographics, 21 parks covering 18.9 per cent, reasonable stock availability with 184 house sales annually, and refinery closure opening redevelopment possibilities. But it delivers flat negative 0.66 per cent capital growth, remaining industrial precinct including fuel terminal maintaining industrial character, no train stations within boundaries requiring drives for rail access, massive development creating infrastructure pressures and construction disruption through 2038, gentrification displacing working-class families, and refinery closure representing loss of major employer.

The suburb works for families prioritizing amenity abundance over capital growth, buyers seeking 904,000-dollar entry into established western suburbs with gentrification upside, young professionals attracted to Precinct 15 townhouses, investors targeting 4.14 per cent unit yields in transformation zones, residents comfortable with industrial operations for affordability and proximity, and those betting on Precinct 15 and refinery site redevelopment. Altona North represents Melbourne's western industrial heartland meeting gentrification forces, where closed ExxonMobil refinery undergoes demolition opening possibilities, where Toyota plant now manufactures hydrogen fuel cells, where 67-hectare Precinct 15 transforms factories into neighborhoods, and where young families pay 904,000 dollars accepting flat growth and fuel terminal on skyline for 12 kilometres CBD proximity impossible in cleaner suburbs demanding coastal premiums.

The information provided is for general information purposes only and does not constitute legal, financial, or professional advice. While care has been taken to ensure accuracy, the information may not be complete, current, or applicable to your specific situation. You should always do your own research and, where appropriate, seek advice from a qualified professional before making any decisions based on this information.