Over the last year, property investments in Albury, 2640 have given investors a capital gain of 0.66%. This compares badly with the 7.15% for NSW as a whole.
Across a shorter period, Albury, 2640 has seen a median price increase of 1.67% over the last quarter.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Albury, 2640. Typically our figures indicate that -5.30% is being offered, which puts this NSW suburb at 2318th most discounted overall in Australia.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
Property investors who have had real estate in Albury, 2640 should be unhappy with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices decrease in value by -7.84%
The five-year average increase in median property values for Albury,2640 has given property investors a potential capital gain of -16.07% across each of those five years.
Property investors looking for a bargain in Albury should be aiming for at least -4.29% off the asking price, which is the average vendor discount being achieved at the moment.
Riverland region service centre Albury (and its Victorian twin Wodonga) – located 588km from Sydney and 300km from Melbourne on the Hume Highway – made Your Investment Property's top 100 list in 2011 for a few reasons.Full summary
Information supplied by:
Riverland region service centre Albury (and its Victorian twin Wodonga) – located 588km from Sydney and 300km from Melbourne on the Hume Highway – made Your Investment Property's top 100 list in 2011 for a few reasons.
First, it's affordable, with a median house price of less than $400,000 and a median unit price of less than $250,000. It's also home to some excellent rental yields.
Third, it's shown consistent population growth over recent years, increasing from 47,700 in 2005 to 50,500 in 2009, suggesting ongoing demand for property. When combined with Wodonga, the population of the urban area is over 90,000.
The combined urban area has significant amenities, with multiple Coles supermarkets, shopping centres, schools, cafes and restaurants, a campus of Charles Sturt University, cinemas and several public and private hospitals. The nearby Lake Hume offers opportunities for fishing and watersports – especially water skiing – and both NSW and Victorian ski resorts are within a few hours’ drive. There are also daily rail and air connections to Sydney and Melbourne.
The city's future potential is what warrants its place on the investor radar: as a service centre for the Riverland region, it's likely to be one of the areas that benefits from the breaking of the drought and recovery of agriculture in the region; on the flip side, should this not materialise, its diverse economy and growing education industry – as well as proximity to popular ski resorts – should protect investors from significant losses.