If you compare the increase in value of investment property in Albury, 2640 to the rest of Australia, it performed quite well. The median increase in value, or capital gain property investors experienced for this NSW suburb was 10.99%.
Taking the average capital gain, or increase in median house value, Albury,2640 has racked up an average of 10.99% over the period. This ranks it number 1394th in the whole country for real estate investors looking at median house price increases.
When looking to buy, or assessing what properties are really achieving at sale, it's essential for property investors to take into account what discounts are being offered in Albury, 2640. Typically our figures indicate that -4.51% is being offered, which puts this NSW suburb at 488th most discounted overall in Australia.
With the median price for a house in Albury being $505000 and the advertised rent reaching $340 the gross rental yield for property investors calculates out to be 3.50%
NSW has seen average median house prices change by 8.39% which means that Albury, 2640 has done well for property investors by showing a capital gain of 18.26% over the last year
While Albury,2640 ranked number 343th in NSW for increase in median house value (annualised) increase, it is ranked 464th over the last 5 years.
State is the most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -4.11% offered to property buyers. Sellers in Albury itself are offering an average vendor discount of -4.64% to real estate investors.
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
Information supplied by:
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.