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 -3.68%
A 20.27% growth in median value for property investors in Albury,2640 puts this suburb at number 922th in terms of best performing suburbs in NSW
Albury2640 is located in NSW which offers an average discount of -5.52% to property investors. Albury itself is showing figures that indicate -5.37% is the average achievable by property buyers investing in the suburb.
In the last year 104 properties changed hands in Albury, which puts it as the 267th most active market in NSW when comparing the number of sales per suburb.
A $350 per week rent on the median house gives suburb investors a gross yield of circa 4.09%, without taking into account capital value appreciation, which has been averaging out at 2.49%.
Albury is in the bottom 20% in NSW when comparing median price capital growth over the last year. Albury gave property investors a dismal capital gain figure when compared to the rest of the state, with -2.13%.
Over the longer term, Albury has seen property prices show investors a 9.18% return over the last 3 years. This is worse than over the last 12 months
At number 264th of NSW’s most discounted properties, Albury is in the middle of the state/territory when listing in order of most discounted to least.
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.