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July Rental Wrap Up


Wagga Wagga ranked 12th in top Australian suburbs

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Your Investment Property Magazine has placed Wagga Wagga in the number 12 position for Australia’s best investment locations, with high potential for short to long term capital growth, strong rental returns and minimal risk.

The magazine carried out extensive research before choosing their list of top 100 Australian suburbs, taking into account the following factors:

  • Affordability
  • Accessibility
  • Amenities
  • Demographics and population growth
  • Employment opportunities
  • Rental yield and rental growth potential
  • Long and short term capital growth potential
  • The risk of the investment.

Wagga Wagga made the 12th position because of its diversity, strong local economy and population growth. Between 2001 and 2006 the population grew by 1% each year, according to SQM Research. With the average median house price of $332,000, the capital growth rose by 7% over the past 12 months, and is currently recording a gross yield of 6%. “During the past 10 years, the median house price rose 9% each year , even as Sydney and other parts of NSW stagnated.”

Wagga Wagga was also mentioned as a strong performer on the educational front with many students residing in the city to attend university or TAFE. Wagga Wagga is also mentioned as a great place to retire, with good medical facilities in place.

The military bases in Wagga Wagga also generate economy activity, jobs and an increased need for housing. The magazine said “The housing market in Wagga Wagga has been a consistent performer for some years now and there is no sign on this changing any time soon.”

Brendan Madigan, Director of Fitzpatricks said “with so much to offer, the future looks bright for the largest inland city in NSW, with plenty of potential for growth in terms of economy and population, it’s a sound location to purchase an investment property.”