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West Albury
For those looking for a cool market, West Albury maybe the one for you. A market within markets.
Finding Investment Suburbs For Under 450K
Suburb Details:
Suburb | State | Postcode |
|---|---|---|
West Albury | New South Wales | 2640 |
Properties under $500,000 are incredibly difficult to come by in West Albury however those with bigger budgets can find a great investment for under $550,000. West Albury is an example of a market within markets, there is still strong price pressure for under $550k. Well-informed investors who can choose high quality investments within this suburb can still make equity as there are a number of factors driving this market. I have also covered an in-depth video about the Albury region on my YouTube channel however this article will specifically focus on West Albury.
Not too many opportunities remaining!
Key Data Metrics
Metric | Actual | Trending |
|---|---|---|
Days On Market | 60 | Slight Trend Down |
Stock On Market | 0.66% | Trending Down |
Vacancy Rate | 0.76% | Flat |
Gross Rental Yield | ~4.6% | Steady |
Online Interest | 37 | Trending Up |
Vendor Discounting | 1.98% | Flat |
Proportion Of Renters | 31.2% | Flat |
Current Population | 3,872 | Steady |
*Note: Data derived from either DSR, Suburbs Finder or HTAG depending on reliability and availability of metrics. This is only a guide and best to cross-reference with other sources.
Location & Infrastructure
West Albury is a suburb of Albury in New South Wales, located about 3 kilometres west of the Albury city centre. The suburb is primarily residential, offering a peaceful environment close to the city. Key infrastructure includes West Albury Public School and healthcare facilities such as the Albury Wodonga Health Service, located nearby. The suburb is well-connected by public transport, with bus routes providing easy access to central Albury and surrounding areas. Residents enjoy access to local amenities, including shopping facilities and parks like the Nail Can Hill Reserve, which offers walking trails and outdoor recreational opportunities. West Albury's proximity to the Murray River and central Albury makes it a convenient and attractive place to live among other reasons.
Other Important Factors:
West Albury as a suburb has not grown as much as the remainder of Albury. Its 10 year average annual growth sits below 7% at around 4.77%. And since the last 36 months it has grown only 20%. This does not mean it will continue to grow however it has grown much less compared to suburbs in around Albury-Wodonga.
Days on market and stock on market has been dropping for the last 4 months indicating there is less stock and increasing demand within that area. As long as demand outweighs supply it will increase house prices. There are also very low building approvals within the suburb indicating a lack of future housing supply.
Its important to note that despite the suburb being a more premium area the household to mortgage repayment ratio sits close to or just over 30%. This indicates that owner-occupiers will still be willing to stretch their budgets to purchase properties in this area.
Vacancy rates are low sitting at 1.22%, meaning demand will high. Rental yields aren’t as high due to property prices being around 500k+. However this suggests investors should be more picky about which property they choose to purchase in this suburb to maximise yields.
Nearby Major Projects:
Major Projects In Albury - Link
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Example Property:
Metric | |
|---|---|
501 Hill Street, West Albury NSW 2640 | |
Purchase Price | $490,000 |
Stamp Duty | <$20,000 |
10% Deposit | $50,000 |
Expected Rental Price | ~$490/Week |
Expected Rental Yield | ~5.2% |
*Note: These calculations are purely estimations, but overall numbers will vary depending on your deposit, interest rates and other factors.
Pro’s Of Investing In West Albury
Trending down days on market and stock on market → Increasing Demand.
Decent rental yields with potential of future capital growth.
A number of infrastructure projects happening driving demand up.
Easy access to airport & only 10 minutes to town centre.
Extreme price pressure for sub $550k market.
Low building approvals will exacerbate future demand.
Con’s Of Investing In West Albury
Difficult to find properties under $550,000.
Affordability in the future may affect house prices in the future.
Ultimate Verdict
West Albury is an example of a market within markets. For investors looking for a cool market or for investors looking to diversify this could be a great option. Albury is economically diverse and is a fast growing regional suburb that has amazing potential. In terms of the fundamentals of property investing Albury has everything for a long term hold. In the short term do not expect it to perform like a Townsville or Perth. The combination of increasing demand and depleting supply will lead to properties to no longer be available for under $500-550k.
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Disclaimer: The information provided in this article is for educational and informational purposes only. It is not intended as financial, legal, or professional advice. Always do your own research and consult with a qualified professional before making any decisions. The opinions expressed here are solely those of the speaker and do not reflect the opinions or views of any other organization. By using this information, you agree that the creator of this content is not responsible for any financial or other losses you might incur.
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