Albury has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 19.97% to date .
Comparing Albury,2640 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
LACK OF BUYER INTEREST may well be the reason that Albury is offering property investors an average of -5.28. This rate of discount on properties puts Suburb at number 554th in terms of most discounted suburbs in NSW
At number 2527 in a list of fastest selling suburbs, Albury is in the bottom 40% of suburbs in Australia with an average of days on market 93.69 for properties listed there.
With the median price for a house in Albury being $536250 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.30%
Albury has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 15.55% to date .
When looking at the potential capital gains offered to property investors over the last 3 years, Albury comes in at number 468th in NSW.
The most recent median price for Albury is $275000, with sellers offering an average of -5.20% off the asking price.
A $240 per week rent on the median house gives suburb investors a gross yield of circa 4.54%, without taking into account capital value appreciation, which has been averaging out at 3.75%.
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
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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.