Giving property investors a an unimpressive capital gain of 0.10% for the last year, Albury, 2640 is the 3029th highest performer in Australia in this respect.
Taking the average capital gain, or increase in median house value, Albury,2640 has racked up an average of 0.10% over the period. This ranks it number 2534th in the whole country for real estate investors looking at median house price increases.
Vendor discounting in Albury is giving property investors an average Vendor Discount of around -6.26%. This puts suburb at number 340th in NSW when ranking the most discounted suburbs.
On average over the past year, suburb has had 7.25 sales per month, which equates to 87 per year.
Renters in Suburb are facing rents around $4200 per annum or $350 every week.
Over the last year, property investments in Albury, 2640 have given investors a capital gain of 14.81%. This compares very favourably with the 5.36% for NSW as a whole.
Across a shorter period, Albury, 2640 has seen a median price increase of 5.08% over the last quarter.
State is the 7th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.57% offered to property buyers. Sellers in Albury itself are offering an average vendor discount of -6.50% to real estate investors.
Albury, 2640’s gross rental yield is 4.03%
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.