Investment in Albury

Discussion in 'Where to Buy' started by timo, 20th Apr, 2020.

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  1. timo

    timo Member

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    Thinking of buying an IP in Albury. Anyone help me why Albury is expensive than Wondonga ( Apparently is closer)

    Regards

    Timo
     
  2. The Grinch

    The Grinch Well-Known Member

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    Maybe you could tell us why albury is a good investment.
    Why Albury?
     
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  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    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..
     
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  4. timo

    timo Member

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    But why its too much difference in median? Bit puzzled
     
  5. timo

    timo Member

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    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.
     
  6. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    Different markets. You will find this with many neighbouring towns.
     
  7. Scott No Mates

    Scott No Mates Well-Known Member

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    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.
     
  8. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    hedge your bets and get one in each.
     
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  9. The Grinch

    The Grinch Well-Known Member

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    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.
     
  10. spoon

    spoon Well-Known Member

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    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...
     
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  11. craigc

    craigc Well-Known Member

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    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?
    :)
     
  12. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Plus Member

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    But once rego in VIC there is no need for an annual rego check like in NSW
     
  13. craigc

    craigc Well-Known Member

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    Correct - initial rego & stamps in NSW, then ‘move’ to Vic before NSW annual inspections kick in. (Hypothetically of course) o_O
     
  14. Fargo

    Fargo Well-Known Member

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    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
     
    Last edited: 24th Apr, 2020
  15. Nicho

    Nicho Member

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    How did you go Timo? Still looking at buying in Albury?
     
  16. Matt456

    Matt456 Member

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    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.