Hey guys I’m looking into my first investment property and liking to looks of Wadonga due to the high yields, have 400k to spend, what are thought on capital growth for the area though? Looking to be able to get another property in a couple of years
I have one of my IPs in Wodonga. Going very well, always in high demand. Wodonga is a good place to invest and many don’t do it because geographically it’s relatively far from Mel or Syd. Houses went up in W recently as everywhere in AU, although W typically grows less compared to lots of other towns closer to main cities.
Thanks that’s what I was assuming pretty much from what I’ve been reading, just don’t know if it will be a bad decision with the low CG for getting into another investment property in a year or 2
I've also looked at Albury / Wodonga and agree yields seem good, plus being regional with a decent population and multi industry should continue to experience strong CG. Have a look at Microburbs to narrow down the suburb you want to buy. Like anywhere, it has its good and bad areas.
well, it’s hard to find a combination of - strong CG - affordability - good employment opportunities - high rental yield W provides slightly weaker CG but the rest of the criteria would be present. Also, being almost like one town with Albury, it gives 100K population, which is equal to towns like Ballarat or Bendigo. Finally, I’ve been to W several times recently and noticed good upgrades around the central area: shops, pleasant streets, cafes. All going well. Some time ago I wanted to buy one more around W but was dragged to a different opportunity .
Agree. One thing I noticed is that Albury is more expensive but the yield is lower compared to W. For example, a house in W May cost 350K, a similar house in Albury would be 450K but rent is the same. So, from rental outcome I’d pick up W. On the other hand, from the CG point of view, I feel A is better. However, Albury is having different areas and if I buy in A, I’ll probably focus on East Albury coz it’s good geographically, relatively ok money wise and renters are okay in there
I bought in Albury in 2008. To me it wasn't worth it to get a few thousand $ a year CF. CG wasn't that great. I only paid $122k so no big deal. Things have moved a bit the last 5 years but it doesn't double like big cities. I wouldn't be spending $400k there. Just my opinion of course. Do your research on past price growth (not just the last 5 years) and rental yields and growth.
Where are you getting the 100% in 5 years? The house I bought in 2008 for $122 would be worth about $250K. So that's 100% in 13 years. The new builds are much more expensive of course.
Read it again. It says- things have moved a bit in the last 5 years but it DOESNT double like in big cities.
Which tells you its all about timing. Even a house in a much smaller town can definitely double in 5 years if you buy at 'the right time'. No-one really knows when that is, especially as we don't know what 'rules' property is currently following. You'll have to do your own research. But if it's still affordable and producing a half decent yield and hasn't grown much in the last 20 years and is miles from a capital city, what does that tell you? It's really difficult to know whether to buy, sell, wait or all three right now. The answer will be different for everyone. A warning though: Albury-Wodonga did get affected by covid a little more than some other inland cities. Bushfires too.
Hi guys Keen to get some advice, will be our first time investing We are looking at a property in Wodonga 400K $390 a week rent on 650sq m Seems to have had steady CG recently Long term investment Looking as well at a few properties in Ballarat East for stronger CG Any insights? Anyone done well in Wodonga Is there really bad areas we should avoid Around the Mann St area?
