Close to train, beautiful walk or bike ride along the foreshore, awesome cafes/ places to eat out (try Stella Pizza for a great value night out) and all with community/ village atmosphere. Great place to raise kids with excellent choice of schools, safe environment, gorgeous playgrounds and indoor play centres in the area. All the benefits of the east (or arguably more) but with nicer, more down to earth people and far better vallue for $$$. As per above review, Altona Meadows great buy atm (only a few mins down the road but you can get a solid home/ backyard/ piece of land for same price as Altona unit and the nearby train at Laverton runs express to CBD rather than stopping all stations).
All the facilities of the east but just being in the west makes it's a little cheaper. Things are changing though, especially with urban sprawl in the north west. Bayside Altona Meadows will become $$$$$$$