NSW Albury/Wodonga

Hi,

Provided a link from Somersoft for this area. Albury is on the NSW side and Wondonga is on the Vic border (good to save on land tax).Was wondering if there was much movement in the region since 2013?

http://somersoft.com/forums/showthread.php?t=93422

 

Spent a bit of time down there of late. Bit of a price rise over 12 months but rental market is dead, at 3.6% currently but stuff is sitting around for months

 

Thanks Dave, was thinking it was strange that the expected rental return seemed abit ambitious and quite abit of stock (new homes).

 

Hey @DaveM are there any differences between the North Albury, Albury and South Albury in terms of prices, rental and demand? Some said properties closer to Lavington are better in CG.

 

Yes heaps. Your "bad" areas are parts of Lavington (known as stabington) and "g block" in Springdale Heights, and parts of West Albury. North Albury can be a bit rough (around Capt Cook Drive and east of David St), but both this and Lavington have new builds going on and are changing.

West Albury has some the most expensive real estate as well as lots of rough housing near the expensive stuff.

Primo real estate is Albury central (south of North Road), and Thurgoona has heaps of new builds due to CSU relocating there. There also new developments in the north west around Norris Park and Glenroy, as well as the good solid family desired areas around East Albury. There are some bad bits near Eastern Circuit in East Albury.

Prices vary greatly, you can pick up slums for the 100's through to a million for a federation red brick in the city

 

I own one in North Albury..it is getting gentrified....sort to speak...even Captain Cook has cleaned up...not as many housing sales.

The reason North Albury is going ahead is because of amenities and proximity to the city.

 

According to Herron Todd White October review, Albury is in the rising market...for houses and units. http://www.htw.com.au/Month_in_Revi...October-2015/Month_In_Review_October_2015.pdf Not that I rely on it but a lower entry price.

 

Hey Sash, are you referring to Captain Cook Drive, North Albury? I saw this online http://www.realestate.com.au/property-house-nsw-north+albury-120785309

 

Do you have a P & B to recommend in Albury? Why do you think the rental market is dead? Albury seems diverse enough and not reliant on a single industry.

 

Hi Larry I've got a few in Albury/Lavington. The area has moved especially the lower end my target are. If you want my tips or and people on the ground there let me know.

 

I'd be curious about the blocks of units there. Seems to be a few for sale as a whole block in Albury (and in other NSW regionals too) - if vacancy rate is too high then they might be dead but i like the idea in general.

 

This is very true. We have an IP in the rough side close to the nice houses (Kurrajong Cr), and are waiting for the price increase to move over

 

Yep...very nicely renovated..a friend bought his house unrenovated for 105k.

 

There was a good one for sale a month back that I tried to get I want a block of units so bad. The vacancy rate is a tad scary but I always try to buy with a tenant in place or have unique features to the property dishwasher, cat friendly. If you could get a block with tenants already in place you would be set. with units they are at the lowest rent obviously and at the end of the day people need somewhere to stay whether they like it or not. If its all they can afford its all they can have. I've found with higher renters they can really pick and choose where they go. That's where taste and location play a bigger part in their selection.

 

HC did a bigbclean out of stock a year or two back. Did they simply dispose or replaced with better/newer stock?

 

I see that Waratah Crescent is near your IP. That, I assume also the rough side? Which is the street or boundary dividing the rough and shiny?

 

Another question. I want to do a radius search from the Albury city centre. Which street would you use as reference?

 

Whats the vacancy rate like presently? I didn't think it was that bad, I don't own anything there but I'm always on the look out. Location wise are unit blocks in one part of the city easier to rent?

 

Yes that is on the rough side. The better sides are west of Kemur St and south of Pemberton St, so just several streets away.

 

I hope the increase value will soon float over to your side.