Albury Wodonga Area

Hi All,

I have been watching the Albury Wodonga area for future IP... I note many new estates opening in North Albury and the future plan for the Thurgoona and Springdale Heights looks quiet positive.

Has anyone heard any news regarding these area's... esp Somerset Rise Estate Thurgoona"

A big thanks for any information

Andy
 
I live in Albury so I can help you out a bit.
- The uni has moved from central Albury out to Thurgoona. I've thought for a while that anything near the mini mart on Thurgoona Drive would be a prime area for the students to rent. Thurgoona is also the growth corridor so there are lots of new estates out there but it is a long way out in Albury terms.
- Lavington has its good and bad areas. The area west of Prune St is ok but the middle section is a bit wild. I haven't spent much time in Springdale Heights but I have ran through there a bit recently and it looks like a nice area. Best to have a look out there for yourself and talk to some agents.
- Glenroy same as Lavi - good and bad.
- The agents have been banging on about North Albury particularly between Union Rd and Fallon St. Houses in this area are $200K and have good rental yield. Investers have been busy in this area.
- South Albury,like North Albury, has traditionally been the next big thing in Albury. Flooding is an issue but the control measure put in place seem to handle it well. It is very close to the main street (Dean St).
- East Albury is very popular and is the place where the new $65M oncology centre is being built. They started working on it last week and it will be finished in 2015. Hopefully that will pump a bit of life into the $300-500K market once completed. Just be careful down below the hospital in the Eastern Circuit area - bit wild too.
- West Albury gives you the whole lot. Pemberton Park is one of the flashes estates in Albury borders by some of roughest areas of Albury.
- Central Albury has currently got a large development being undertaken on the old uni site. It will be a very nice precinct when finished but it could stiffle growth at the top end due to extra supply.
There you have it. You probably know all the other stuff about steady growth, multiple drives and lifestyle from Google. Good luck.
 
I live in Albury so I can help you out a bit.
- The uni has moved from central Albury out to Thurgoona. I've thought for a while that anything near the mini mart on Thurgoona Drive would be a prime area for the students to rent. Thurgoona is also the growth corridor so there are lots of new estates out there but it is a long way out in Albury terms.
- Lavington has its good and bad areas. The area west of Prune St is ok but the middle section is a bit wild. I haven't spent much time in Springdale Heights but I have ran through there a bit recently and it looks like a nice area. Best to have a look out there for yourself and talk to some agents.
- Glenroy same as Lavi - good and bad.
- The agents have been banging on about North Albury particularly between Union Rd and Fallon St. Houses in this area are $200K and have good rental yield. Investers have been busy in this area.
- South Albury,like North Albury, has traditionally been the next big thing in Albury. Flooding is an issue but the control measure put in place seem to handle it well. It is very close to the main street (Dean St).
- East Albury is very popular and is the place where the new $65M oncology centre is being built. They started working on it last week and it will be finished in 2015. Hopefully that will pump a bit of life into the $300-500K market once completed. Just be careful down below the hospital in the Eastern Circuit area - bit wild too.
- West Albury gives you the whole lot. Pemberton Park is one of the flashes estates in Albury borders by some of roughest areas of Albury.
- Central Albury has currently got a large development being undertaken on the old uni site. It will be a very nice precinct when finished but it could stiffle growth at the top end due to extra supply.
There you have it. You probably know all the other stuff about steady growth, multiple drives and lifestyle from Google. Good luck.

Great post!

Can you pls elaborate what you mean by agents banging on about nth Albury?

There seems to be a fair few selling in the area recently
 
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Great post!

Can you pls elaborate what you mean by agents banging on about nth Albury?

There seems to be a fewe of them selliby recently

Yes I'd be interested in that also. I have an IP in there.

TMNT can you please translate your last sentence.:D

Thanks.
 
Last week I drove around West Wodonga area. I was expecting a bit run -down town feel... but I was pleasantly surprised. I think there are many positives
- This region (Albury/Wodonga) is a bit removed from Sydney & Melbourne but self-functioning with universities, hospitals and multi-businesses including defense. Most other regions are connected to only one major city.

- Prices are so much lower than Sydney & Melbourne. House prices haven't moved much over 10 years but it had growth before that. So it is about time.

- Recent Hume Freeway bypass moved all heavy trucks away from these two cities. Some would argue that it was damaging for small business but I think it would be like how Newcastle was transformed after BHP.

- Investors haven't attacked this area much even though it was on Margaret Lomas and Terry Ryder's list.

Disclaimer: I have an IP in West Wodonga which was bought few months ago. Before anyone ask 230K returning 275 pw.
 
Great post!

Can you pls elaborate what you mean by agents banging on about nth Albury?

There seems to be a fair few selling in the area recently

Sorry just clear that up. I live in central North Albury and have an IP here so I talk to agents all the time. They are telling me investors are buying into the Fallon St to Union Rd area because the houses are under $200K and the rental yield is up around 7-8+%. There seem to be more coming onto the market at the moment so I figure that is a response to the demand.
I've believed for years that that area is the area to buy into because FHB, renovator and value adders are running out of stock in central, East Albury and central North Albury. The blocks are big there and the houses are little so they present a blank canvas. Just be careful of the three new double story commission homes complexes that have been built on Mate St and the street behind. I've heard stories of owners selling up because of them.
Local tip here to. Albury is a balanced market. Valuations will be around 10-15% lower then the asking price. If the place is really good it might get in under 5% but this isn't normal. Valuations and recent sales data will get you into a very tight band price wise.
Oh Wodonga has just got the rail line removed from the CBD and it is being redeveloped. The areas close to this area are very similar to North Albury and I think presents to same possibilities. Once it is decongested and gets a few more coffee shop/restaurants people will start wanting to move closer just like Dean St in Albury.
Devank - spot on with all your comments. Highway bypass has only made the cities better. I do feel for the commercial property owners on Wagga Rd in Lavington as they have been decimated by the move.
 
I've believed for years that that area is the area to buy into because FHB, renovator and value adders are running out of stock in central, East Albury and central North Albury. The blocks are big there and the houses are little so they present a blank canvas. Just be careful of the three new double story commission homes complexes that have been built on Mate St and the street behind. I've heard stories of owners selling up because of them.

Can you please tell me where they are. I looked on google maps but can't see them. A cross street? or which street behind? Thanks.

Jaspn- the rent was $210 when I first rented it. Hasn't moved which is a bit disapointing.
 
903 Mate Street. On google maps you can see the construction fence. There is one on either side of the road plus one back in Sylvania Ave (fence there too).
 
Can you please tell me where they are. I looked on google maps but can't see them. A cross street? or which street behind? Thanks.

A note about Google Maps - I've found satellite imagery on many occasions to be a lot more up to date than Street View. The street I live in has about 2 years variation.
 
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