NSW What's your experience with Wagga Wagga?

Yeah....update is it is doubling......is now known as "Wagga Wagga"

 

What do the letters W.W.C.C stand for on all the council-owned vehicles in Wagga?.....

Wagga Wagga Council Council

 

You will likely find it stands for County Council.

 

I imagine its City Council.

Wagga is a City and its a lovely place full of sunshine , fresh air, home to several Companies and about 5 hours drive South West of Sydney

Wagga Wagga is not bad for investment properties.

 

Yes.......or City Council.

 

Care to share more on your insights?
Am currently looking at regionals in NSW, would love to know your go to's and don't go nears

 

In general, Wagga hasn't really moved for a long time. Certain suburbs such as
Turvey Park and Central Wagga hold good value for good reason - nice houses and very conveniently located. Other newer suburbs such as Estella and Bourkelands have done well.
Wagga is a really good city/town. But it's cold and foggy in winter and very conservative even compared to smaller places. I'm enjoying being here.

I live in Wagga but am glad I bought in Parkes, where I lived for 5 years. I've seen some growth on that house already and haven't even funished the renos. Parkes is the star. I'd also look at other towns on the inland rail route.

 

I do not know much about Wagga Wagga, just look at the info one each area and find what suits, then learn about the areas.

A lot of towns now the lenders are very conservative, will depend how they rate the place, any larger city type towns will have a better rating, but you may find the poorer rated towns have much better return potential, also may have better CG as a %.

A lot to mull over.

 

Hi. Totally new to property investment and was looking at investing (around the 250k mark) in Wagga Wagga, but feel a little worried after reading this!

Anything changed over the last year? Have the ´bad areas’ improved at all?

 

As long as you buy in the right suburbs.

 

Wagga is a good place - I like it more and more. There also seems to be a bit going on and it is very welcoming to several cohorts of refugees, which is just the kind of progressive thinking this place needs.
Now is good buying but I would recommend going as up-market as you can unless you know the place well. Locals tell me that you can buy in the ratty suburbs, as long as you know where. I've been here three years nearly and still have no idea about the hidden gems.
However, I see nothing at all wrong with Mt Austin, just from looking around - not living there. My sts tell me it's fine and like it better for family renting because more affordable. They also live and buy in Glenfield (which I don't think is 'ratty' ) and even Ashmont.
If you want to buy-in @250K, you will have to do some on-the-ground research including talking to locals as well as REAs. At that price you would most likely be looking at fibro.
Wish I was in a position to buy - I would buy in now.
Houses which have been on the market since Autumn are now selling at discounts, though they were probably over-priced to start with.
BTW: Michael McCormack is right - there's plenty of work around for anyone, regardless of age, who's willing to put their boots on and get their hands a little dirty. Why live in Sydney when the work is in the regionals?

 

Wagga Wagga is a good town with some good employers. Above comments are true about location and attitude. The uni tends to make rentals quite seasonal so be aware of that. I was out there in July. Historically a bit soft on the rentals but has been tightening up which is good.

Albury is another good town, also rental trends headed in the right direction.

Dubbo has been strong for ages, and a steady performer.

Closer to Sydney the smaller regional will be a bit more a mixed bag regarding the current cycle but seem to get stronger pulses of growth when they happen.

Cooma is small which may put it in the too risky category but cheap and hydro 2.0 is pushing rents.

Goulburn, Orange, Bathurst, Cessnock, Yass etc all have a case in the 2-4 hrs range from Sydney.

I still prefer coastal in most cases due to seachange population growth and constrained supply but ... when the budget requires you can definitely do ok in the inland towns just ensure you get on the ground and do good research and due diligence.

Depends what your goals are and and what kind of metrics you seek.

 

What's your strategy, Kitty? It doesn't seem like prices move there much, so you're unlikely to get much capital gain. Are you going to buy something that needs work and add value to it? Or are you just hoping to find something that will give you positive cash flow of $60 per week or so?
Have you been to Wagga? The best research is sometimes going to a town and spending a day driving around and talking to agents.

 

Anyone else looking in the Wagga area at the moment? Wagga local here, looking at my first IP.

 

I am currently looking to purchase my first investment property and Ashmont has caught my eye due to the affordable prices that are under the average for the area. Ive been looking at Connorton Avenue and Adams St as there are some that are under $160k mark. Has anyone got any advice for these particular streets? Whether to avoid this area completely, or whether there could be some potential due to such cheap pricing?

Much Appreciated, Mitch

 

Pls read previous posts reg best and worst suburbs in WW. Ashmont is avoid IMO.

Turvey Park near botanic gardens is better.

 

Thanks appreciate the reply. Yeah I saw that most people disregard Ashmont however i noticed a fee people saying that it depends which specific street in Ashmont thats why i was wondering about those specifically. Will check out Turvey Park

 

Definitely depends on where in Ashmont - there are certainly some pockets that are all right. However, Connorton and Adams Street are in my view right in the middle of the worst part of Ashmont, and it would certainly be an area that I would avoid.

 

and just a very interesting update,

it looks like EBM are no longer insuring tolland/ashmont/turvey park/kooringal

online quote refuses to insure when entering the post code,

not sure if this is temporary or not

 

You'll find that a lot of insurers will be putting embargoes on new insurances at the moment, particularly if it is anywhere near a bushfire. It will vary from insurer to insurer, and from day to day. Not uncommon when a natural disaster is taking place.