Suburb Profile Report for Wagga Wagga NSW (2650)

Wagga Wagga House: Median price $387,500, Annual capital growth 3.43%, Number of sales 135, Weekly median advertised rent $350

Wagga Wagga Unit: Median price $260,000, Annual capital growth 2.53%, Number of sales 59, Weekly median advertised rent $263

  • House
  • Unit
Source: CoreLogic RP Data
  • Median price
  • Number of sales

Source: CoreLogic

  • House Report
  • Unit Report
  • Expert Report

At number 2636th in the list of Australian suburbs ordered by increase in median house value over the last year, Wagga Wagga, 2650 is in the BOTTOM 40% with a property value increase of 2.65% recorded in median house prices.

When looking at the potential capital gains offered to property investors over the last 3 years, Wagga Wagga comes in at number 1170th in NSW.

At number 498th of NSW’s most discounted properties, Wagga Wagga is in the middle of the state/territory when listing in order of most discounted to least.

At number 2275 in a list of fastest selling suburbs, Wagga Wagga is in the bottom 40% of suburbs in Australia with an average of days on market 88.4 for properties listed there.

With the median price for a house in Wagga Wagga being $387500 and the advertised rent reaching $350 the gross rental yield for property investors calculates out to be 4.70%

Wagga Wagga has had a pretty good year for property investment returns compared to the rest of NSW, giving investors a capital gain of 10.17% to date .

The five-year average increase in median property values for Wagga Wagga,2650 has given property investors a potential capital gain of 15.17% across each of those five years.

Property buyers and investors in Wagga Wagga 2650 should be seeing an average reduction in asking price of around -5.11% . This means that Wagga Wagga is holding prices well when compared to other suburbs in NSW.

Residents and property investors in Wagga Wagga have been waiting around 116.02 days to sell a property.

Renters in Suburb are facing rents around $3150 per annum or $262.5 every week.

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The housing market in Wagga Wagga has been a consistent performer for some years now, and has outperformed the slow market in Sydney and NSW in recent times.

Full summary

The housing market in Wagga Wagga has been a consistent performer for some years now, and has outperformed the slow market in Sydney and NSW in recent times.

“If you look at price growth for Wagga Wagga it never has a year of price decline. It is a stayer,” says Terry Ryder of hotspottting.com.au. “It just keeps on rising, not spectacularly, but if you are the sort of investor who likes safety it’s the sort of place you should consider.”

Wagga Wagga, being the largest inland city in NSW, has a very diverse and strong  local economy that has continued to be a magnet for residents of nearby towns, soaking up their populations. Between 2001 and 2006, Wagga Wagga’s population grew by 1% each year according to SQM Research. 
 

Over 2,500 students at Charles Sturt University call Wagga Wagga home, and this vibrant youth culture is reflected in the nightlife and entertainment scene within the city. Wagga Wagga boasts three independent theatre companies and hosts a variety of events such as music and jazz festivals, as well as national sporting events.

“Wagga Wagga is quite a big city, and it’s a regional centre for a very wide area,” says Ryder. “People go to Wagga Wagga for medical services and their education – TAFE and university campuses are there.

"People who live in a 200km radius retire there because it has very good medical facilities. It has got a multi-faceted economy and some of the big impetus comes from the military, the RAAF base. There is also an army base outside of Wagga Wagga that is expanding. Those expansions generate economic activity, jobs and demand for housing.”

Close
Metrics i HOUSE UNIT
$387,500 $260,000
1.97% 5.26%
2.65% 10.17%
3.43% 2.53%
$350 $263
135 59
4.70% 5.25%
88.4 116.02

Source: CoreLogic

DSR Score for property investment : Above average (H), Above average (U)
Find a mortgage broker in Wagga Wagga NSW
Demographics
Total population 6961
Median household income ($/weekly) 978
Median age of persons 35
Median housing loan repayment ($/monthly) 1517
Average household size 2
  • Census Count Percent(%)
    20-24 years 1001 14.4
    25-34 years 1171 16.8
    35-44 years 736 10.6
    45-54 years 814 11.7
    55-64 years 722 10.4
    Others 2518 36.2
    Age Group
    Census Count Percent(%)
    Not Married 2886 54.5
    Registered Married 1785 33.7
    Defacto Relationship 627 11.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 5694 87.0
    Indonesia 121 1.8
    Papua New Guinea 61 0.9
    United Kingdom 146 2.2
    Other 194 3.0
    Others 326 5.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 67 1.0
    Christianity 4967 77.2
    Hinduism 64 1.0
    Islam 89 1.4
    No Religion 1193 18.5
    Others 53 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 286 10.1
    $400-$599 331 11.7
    $600-$799 321 11.3
    $800-$999 291 10.2
    $1,500-$1,999 303 10.7
    Others 1309 46.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2377 41.3
    Not in the labour force 1936 33.7
    Employed, worked part-time 1019 17.7
    Unemployed, looking for work 220 3.8
    Employed, away from work 199 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 402 11.2
    Professionals 894 24.8
    Technicians & trades workers 558 15.5
    Community & personal service workers 428 11.9
    Clerical & administrative workers 408 11.3
    Others 908 25.2
    Occupation
    Census Count Percent(%)
    Pre-school 98 5.9
    Infants/Primary 349 21.1
    Secondary 235 14.2
    Technical or Further Educational Institution 266 16.1
    University or other Tertiary Institutions 673 40.7
    Others 32 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4202 66.4
    Flat, unit or apartment 1430 22.6
    Semi-detached, row or terrace house, townhouse 600 9.5
    House or flat attached to a shop, office 97 1.5
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1467 48.5
    Fully owned 842 27.9
    Being purchased 661 21.9
    Other tenure type 53 1.8
    Tenure Type
Census 2011, ABS
Chart Table
Recent sales & rentals