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 22.49%
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.
Our latest figures would indicate that property sellers in Albury are currently offering property investors an average price cut of -4.51% below the asking price at the moment.
Often selling an investment property can take time, and in Albury the average time real estate has been on the market is 93.91 days.
A $340 per week rent on the median house gives suburb investors a gross yield of circa 3.21%, without taking into account capital value appreciation, which has been averaging out at 5.07%.
Albury has had a A very good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 20.46% to date .
The five-year average increase in median property values for Albury,2640 has given property investors a potential capital gain of 13.73% across each of those five years.
Property buyers and investors in Albury 2640 should be seeing an average reduction in asking price of around -5.07% . This means that Albury is holding prices well when compared to other suburbs in NSW.
Residents and property investors in Albury have been waiting around 85.04 days to sell a property.
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.