Property value increases in Albury have tracked higher than the NSW average of -2.96% over the last 12 months.
Data for the last quarter indicates that, in the short term at least, the capital value growth rate for property investors in Albury has increased when compared to the 5 year average annual rate.
Albury, 2640 is offering NSW ‘s 870th most discounted properties when looking at the average discount being offered by vendors. This puts it in the bottom 10% of discounts offered by this NSW.
On average over the past year, suburb has had 6.25 sales per month, which equates to 75 per year.
Situated 461.72km from the CBD, Albury is one of Albury (C) localities in the postcode 2640.
With a capital gain of -13.40% for the last 12 months, Albury, 2640 has performed for property investments than its average annual 4.64% property growth over the last 5 years.
While Albury,2640 ranked number 338th in NSW for increase in median house value (annualised) increase, it is ranked 344th over the last 5 years.
Albury2640 is located in NSW which offers an average discount of -6.79% to property investors. Albury itself is showing figures that indicate -5.25% is the average achievable by property buyers investing in the suburb.
Often selling an investment property can take time, and in Albury the average time real estate has been on the market is 87.8889 days.
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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.