Albury is in the bottom 20% in NSW when comparing median price capital growth over the last year. Albury gave property investors a dismal capital gain figure when compared to the rest of the state, with -5.45%.
Comparing Albury,2640 ‘s 5year and quarterly average capital gain offered to property investors, it performed less well across the longer period
Albury2640 is located in NSW which offers an average discount of -6.18% to property investors. Albury itself is showing figures that indicate -5.51% is the average achievable by property buyers investing in the suburb.
Property investors should expect to get $350 weekly from the median priced house in this suburb.
At number 626th 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 5.17% recorded in median house prices.
Taking the average capital gain, or increase in median house value, Albury,2640 has racked up an average of 5.17% over the period. This ranks it number 475th in the whole country for real estate investors looking at median house price increases.
Our latest figures would indicate that property sellers in Albury are currently offering property investors an average price cut of -5.67% below the asking price at the moment.
Albury is 203th on a list of best yielding suburbs for rents in NSW with a 4.26% return
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
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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.