Suburb Profile Report for Albury NSW (2640)

Albury House: Median price $530,000, Annual capital growth 4.26%, Number of sales 103, Weekly median advertised rent $340

Albury Unit: Median price $285,000, Annual capital growth 4.20%, Number of sales 28, Weekly median advertised rent $250

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

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

  • Expert Report
  • House Report
  • Unit Report

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.

Metrics i HOUSE UNIT
$530,000 $285,000
2.91% -1.72%
3.92% -6.56%
4.26% 4.20%
$340 $250
103 28
3.34% 4.56%
72.3 80.75

Source: Monthly data update for Jun 2019 as supplied by CoreLogic. Data is reported to the period ending Mar 2019. Please note that property sales data is routinely updated, so may change retrospectively.

DSR Score for property investment : Above average (H), Good (U)
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Demographics
Total population 4933
Median household income ($/weekly) 1120
Median age of persons 41
Median housing loan repayment ($/monthly) 1733
Average household size 2.1
  • Census Count Percent(%)
    5-14 years 491 10.0
    25-34 years 586 11.9
    35-44 years 588 11.9
    45-54 years 642 13.0
    55-64 years 744 15.1
    Others 1882 38.2
    Age Group
    Census Count Percent(%)
    Not Married 1642 46.5
    Registered Married 1540 43.6
    Defacto Relationship 349 9.9
    Social Marital Status
  • Census Count Percent(%)
    Australia 3979 86.1
    Indonesia 63 1.4
    Papua New Guinea 56 1.2
    United Kingdom 176 3.8
    Other 137 3.0
    Others 212 4.6
    Country of Birth
    Census Count Percent(%)
    Buddhism 49 1.1
    Christianity 3191 71.7
    Hinduism 84 1.9
    Islam 26 0.6
    No Religion 1064 23.9
    Others 34 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 167 9.2
    $400-$599 164 9.0
    $600-$799 211 11.6
    $800-$999 172 9.5
    $1,500-$1,999 214 11.8
    Others 888 48.9
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 1510 38.0
    Not in the labour force 1385 34.8
    Employed, worked part-time 827 20.8
    Employed, away from work 133 3.3
    Unemployed, looking for work 123 3.1
    Person Characteristics
  • Census Count Percent(%)
    Managers 334 13.5
    Professionals 740 30.0
    Technicians & trades workers 284 11.5
    Community & personal service workers 257 10.4
    Clerical & administrative workers 349 14.1
    Others 504 20.4
    Occupation
    Census Count Percent(%)
    Pre-school 73 6.1
    Infants/Primary 285 23.7
    Secondary 335 27.8
    Technical or Further Educational Institution 192 15.9
    University or other Tertiary Institutions 288 23.9
    Others 32 2.7
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 3210 75.6
    Flat, unit or apartment 684 16.1
    Semi-detached, row or terrace house, townhouse 334 7.9
    House or flat attached to a shop, office 16 0.4
    Caravan, cabin, houseboat 0 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 798 40.4
    Fully owned 655 33.2
    Being purchased 504 25.5
    Other tenure type 18 0.9
    Tenure Type
Census 2011, ABS
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