Thinking of buying an IP in Albury. Anyone help me why Albury is expensive than Wondonga ( Apparently is closer) Regards Timo
Albry is NSW and Wodonga is VIC. Different state laws. Land tax might be cheaper in NSW (could be dearer too) and stamp duty cheaper than VIC..
Thank you.Company which I work now is thinking of expanding their operations in Albury ( They already have a Mfg plant). Long future I may need to work there as well.
Due to our nsw exposure to land tax, I would be buying in Victoria but you'd have to crunch all the numbers before jumping in. There are some newer estates around Bandiana (near the army base) or over the border.
Both markets are quite sturdy from my memory. Haven't been there or looked at either for awhile. You have massive price differences in sydney suburbs, the same holds true for regionals there are always OO properties with more appeal. If you are buying for a PPOR then your reasons will be different for an IP.
Albury is a bigger town. Although both towns have a university there, the Albury campus is a bit more established compared to the Wodonga one. Psychologically, people like to stop over at Albury before continuing on the Hume than Wodonga. And it is NSW...
Also very helpful for stamp duty savings, do your initial rego in NSW rather than Vic address for your new sports car - save ‘000s! A new tax tip suggestion Terry_w?
Correct - initial rego & stamps in NSW, then ‘move’ to Vic before NSW annual inspections kick in. (Hypothetically of course)
There is no power hungry hungry Daniel Andrews and totalitirian government in NSW. If you live in NSW you can fish in the Murray and get your driving licence before your an old man, If you live in Vic you cant do anything, you cant live, you merely exist. Cant fish, cant shoot cant, cant do sports flying, cant hunt , cant SSV. cant hit a golf ball at least you can walk around a golf course. cant swim, cant paddle board, cant ski, cant do any solo activity that allows you to isloate. Cant do fire fuel reduction but some lives dont matter, while others do. Cant get treatment for cancer, dentistry, cant get joint replacements or surgery, but we do have plenty of hospital beds and most of the state has no community transmission or any Covid. We have a carnt leader. Albury has proximity to CBD, airport, Hospital etc, all the things that drive desirability in any location
Wodonga has typically been the poorer and smaller cousin to Albury with it's CBD run down in comparison. This is changing though, there's been a significant refresh happening. Best to visit for yourself and check out the two towns.