With a capital gain of 17.45% for the last 12 months, Albury, 2640 has performed for property investments than its average annual 3.92% property growth over the last 5 years.
Albury,2640 was ranked 1545 in Australia by increase in median property value over the quarter.
Our latest figures would indicate that property sellers in Albury are currently offering property investors an average price cut of -5.58% below the asking price at the moment.
Advertised rents are around the $340 mark per week – giving a return of 3.37% based on the median price in Suburb
Property investors who have had real estate in Albury, 2640 should be pleased with this NSW suburb’s performance compared to the rest of the country. Over the last year it has seen median house prices increase in value by 13.54%
Albury,2640 has offered an average of 13.54% return per annum in house price rises to property investors over the last three years.
Sellers are offering property buyers an average discount of -5.54% to buyers in Albury at the moment, which is less than average for the rest of NSW.
In the last year 36 properties changed hands in Albury, which puts it as the 337th most active market in NSW when comparing the number of sales per suburb.
Situated 423.44km from the CBD, Albury is one of Albury localities in the postcode 2640.
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.