Albury/Wodonga: what type of property is a solid investment?

Hi guys/girls,

I am about to buy a property in Albury/Wodonga to live in for 1-2 years while I work in the area with the plan of cleaning it up and preparing it for a low maintenance rental property for the next 10 years or so.

What property type is in high demand as a rental in this area?
How do I find data on this?

I know there is a couple of universities, big TAFEs, and i think growing industry... does this mean apartments, 2 bedroom houses or 4 bedroom houses?
There is obviously lots of land around that is within a short commute from the CBDs, so is proximity to CBD move valuable for capital gains than land size?

All I know is that shed space / storage / lockup garage is key - lots of country means boats, cars and caravans.

Thank you for your wisdom.

 

You don't get those with a unit, townhouse or villa.

 

I would guess University TAFE students like to be within walking or bicycle distance to campus. Also close to shops pubs etc

 

Hi 3lf,
I just moved away from that area, I was very interested in the north Albury area. Some quite cheap houses that need renos around the $2-300k mark close to infrastructure and the big shopping plaza.thats where I'd be concentrating.

 

Thank's yorkie. Are you talking close to the Albury central infrastructure or more north towards the Lavington 5-ways?

cheers.

 

Yes in around that area, probably more south of the shopping centre between there and Albury city. Close to schools etc.

 

Did you end up buying? If you did, where?

 

I did buy - I liked the "central north" area as discussed above, but i did not find anything that was not already sold or i felt overpriced in that area at the time.
I bought a 2 bedroom, 1980s double brick detached townhouse (in a block of only 2) with already renovated kitchen and bathroom and a lovely private garden. Quiet street that had lots of nice older houses on it in a pocket of Lavington.
Albury is funny as its got lovely pockets of older solid built houses with established gardens tucked away, then 2 streets over its new housing estates full of "riff raf" or rows of older falling down moldy weatherboard joints with no charm. Driving around i found heaps streets i would want to live, right beside places i would steer well clear of.

 

federation houses are beautiful. congratulations!

 

Congratulations.. I'm looking to buy in Albury in the next few months.

Which areas should I be adding avoiding to get long term family tenants?

 

Horses for courses but Albury/Wodonga and 'solid investment' in the same sentence?