With a capital gain of 0.55% for the last 12 months, Wagga Wagga, 2650 has performed for property investments than its average annual 3.10% property growth over the last 5 years.
Across a shorter period, Wagga Wagga, 2650 has seen a median price increase of 0.30% over the last quarter.
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 Wagga Wagga, 2650. Typically our figures indicate that -5.88% is being offered, which puts this NSW suburb at 2119th most discounted overall in Australia.
With a capital gain of -7.41% for the last 12 months, Wagga Wagga, 2650 has performed for property investments than its average annual 1.52% property growth over the last 5 years.
Across a shorter period, Wagga Wagga, 2650 has seen a median price increase of -2.34% over the last quarter.
State is the 4th most discounted Australian state or territory in this month’s figures with an average Vendor Discount of -6.91% offered to property buyers. Sellers in Wagga Wagga itself are offering an average vendor discount of -5.98% to real estate investors.
At number 1202 in a list of fastest selling suburbs, Wagga Wagga is in the bottom 10% of suburbs in Australia with an average of days on market 118.533 for properties listed there.
With the median price for a house in Wagga Wagga being $250000 and the advertised rent reaching $270 the gross rental yield for property investors calculates out to be 5.62%
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The housing market in Wagga Wagga has been a consistent performer for some years now, and has outperformed the slow market in Sydney and NSW in recent times.
“If you look at price growth for Wagga Wagga it never has a year of price decline. It is a stayer,” says Terry Ryder of hotspottting.com.au. “It just keeps on rising, not spectacularly, but if you are the sort of investor who likes safety it’s the sort of place you should consider.”
Wagga Wagga, being the largest inland city in NSW, has a very diverse and strong local economy that has continued to be a magnet for residents of nearby towns, soaking up their populations. Between 2001 and 2006, Wagga Wagga’s population grew by 1% each year according to SQM Research.
Over 2,500 students at Charles Sturt University call Wagga Wagga home, and this vibrant youth culture is reflected in the nightlife and entertainment scene within the city. Wagga Wagga boasts three independent theatre companies and hosts a variety of events such as music and jazz festivals, as well as national sporting events.
“Wagga Wagga is quite a big city, and it’s a regional centre for a very wide area,” says Ryder. “People go to Wagga Wagga for medical services and their education – TAFE and university campuses are there.
"People who live in a 200km radius retire there because it has very good medical facilities. It has got a multi-faceted economy and some of the big impetus comes from the military, the RAAF base. There is also an army base outside of Wagga Wagga that is expanding. Those expansions generate economic activity, jobs and demand for housing.”