Suburb Profile Report for Wagga Wagga NSW (2650)

Wagga Wagga House: Median price $412,250, Annual capital growth 3.10%, Number of sales 123, Weekly median advertised rent $350

Wagga Wagga Unit: Median price $250,000, Annual capital growth 1.52%, Number of sales 42, Weekly median advertised rent $270

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

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

  • Expert Report
  • House Report
  • Unit Report

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%

Information supplied by:




M
O

W
E

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.”

Metrics i HOUSE UNIT
$412,250 $250,000
0.30% -2.34%
0.55% -7.41%
3.10% 1.52%
$350 $270
123 42
4.41% 5.62%
94.3866666666667 118.533333333333

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

DSR Score for property investment : Good (H), Balanced (U)
Find a mortgage broker in Wagga Wagga NSW
Demographics
Total population 6961
Median household income ($/weekly) 978
Median age of persons 35
Median housing loan repayment ($/monthly) 1517
Average household size 2
  • Census Count Percent(%)
    20-24 years 1001 14.4
    25-34 years 1171 16.8
    35-44 years 736 10.6
    45-54 years 814 11.7
    55-64 years 722 10.4
    Others 2518 36.2
    Age Group
    Census Count Percent(%)
    Not Married 2886 54.5
    Registered Married 1785 33.7
    Defacto Relationship 627 11.8
    Social Marital Status
  • Census Count Percent(%)
    Australia 5694 87.0
    Indonesia 121 1.8
    Papua New Guinea 61 0.9
    United Kingdom 146 2.2
    Other 194 3.0
    Others 326 5.0
    Country of Birth
    Census Count Percent(%)
    Buddhism 67 1.0
    Christianity 4967 77.2
    Hinduism 64 1.0
    Islam 89 1.4
    No Religion 1193 18.5
    Others 53 0.8
    Religious Affiliation
  • Census Count Percent(%)
    $300-$399 286 10.1
    $400-$599 331 11.7
    $600-$799 321 11.3
    $800-$999 291 10.2
    $1,500-$1,999 303 10.7
    Others 1309 46.1
    Gross Household Income (Weekly)
    Census Count Percent(%)
    Employed, worked full-time 2377 41.3
    Not in the labour force 1936 33.7
    Employed, worked part-time 1019 17.7
    Unemployed, looking for work 220 3.8
    Employed, away from work 199 3.5
    Person Characteristics
  • Census Count Percent(%)
    Managers 402 11.2
    Professionals 894 24.8
    Technicians & trades workers 558 15.5
    Community & personal service workers 428 11.9
    Clerical & administrative workers 408 11.3
    Others 908 25.2
    Occupation
    Census Count Percent(%)
    Pre-school 98 5.9
    Infants/Primary 349 21.1
    Secondary 235 14.2
    Technical or Further Educational Institution 266 16.1
    University or other Tertiary Institutions 673 40.7
    Others 32 1.9
    Type of Educational Institution Attending
  • Census Count Percent(%)
    Separate house 4202 66.4
    Flat, unit or apartment 1430 22.6
    Semi-detached, row or terrace house, townhouse 600 9.5
    House or flat attached to a shop, office 97 1.5
    Caravan, cabin, houseboat 3 0.0
    Others 0 0.0
    Dwelling Structure
    Census Count Percent(%)
    Rented 1467 48.5
    Fully owned 842 27.9
    Being purchased 661 21.9
    Other tenure type 53 1.8
    Tenure Type
Census 2011, ABS
Chart Table