Over the last year, property investments in Albury, 2640 have given investors a capital gain of 13.90%. This compares favourably with the 7.47% for NSW as a whole.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Albury has increased when compared to the 5 year average annual rate.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -5.49% offered to property buyers. Sellers in Albury itself are offering an average vendor discount of -5.49% to real estate investors.
Property investors should expect to get $340 weekly from the median priced house in this suburb.
Over the last year, property investments in Albury, 2640 have given investors a capital gain of 4.55%. This compares averagely with the 5.88% for NSW as a whole.
The five-year average increase in median property values for Albury,2640 has given property investors a potential capital gain of -1.77% across each of those five years.
Albury2640 is located in NSW which offers an average discount of -4.41% to property investors. Albury itself is showing figures that indicate -4.47% is the average achievable by property buyers investing in the suburb.
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.