Albury, 2640 ranked 571th in NSW when comparing growth in median property values or capital gain over the last 12 months. Albury is one of 3163 in our list for NSW
If we look at median property appreciation over just the last three months, Albury has given property investors a paper return of -6.34%. This puts Suburb as 1169 on a list of fastest fasting appreciating suburbs in NSW
The most recent median price for Albury is $509750, with sellers offering an average of -3.45% off the asking price.
At number 1084 in a list of fastest selling suburbs, Albury is in the TOP 30% of suburbs in Australia with an average of days on market 65.2333 for properties listed there.
Albury is 737th on a list of best yielding suburbs for rents in NSW with a 3.47% return
With a capital gain of -9.59% for the last 12 months, Albury, 2640 has performed for property investments than its average annual 3.77% property growth over the last 5 years.
Across a shorter period, Albury, 2640 has seen a median price increase of 3.73% over the last quarter.
Sellers are offering property buyers an average discount of -5.45% to buyers in Albury at the moment, which is less than average for the rest of NSW.
The NSW suburb of Albury, 2640 is in the Albury (C) local government area.
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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.