At number 1452th in the list of Australian suburbs ordered by increase in median house value over the last year, Albury, 2640 is in the top 40% with a property value increase of 3.92% recorded in median house prices.
While Albury,2640 ranked number 237th in NSW for increase in median house value (annualised) increase, it is ranked 864th over the last 5 years.
At number 840th of NSW’s most discounted properties, Albury is in the TOP 10% of the state/territory when listing in order of most discounted to least.
Situated 461.60km from the CBD, Albury is one of Albury (C) localities in the postcode 2640.
Property investors who have had real estate in Albury, 2640 should be relatively 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 -6.56%
Across a shorter period, Albury, 2640 has seen a median price increase of -1.72% over the last quarter.
LACK OF BUYER INTEREST may well be the reason that Albury is offering property investors an average of -6.52. This rate of discount on properties puts Suburb at number 309th in terms of most discounted suburbs in NSW
Using the current median advertised rental of $250 and the average annual increase in value of a median property of 4.20%, investors should hope to achieve an overall return of 4.56%
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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.