Albury

[Player]

I've searched the forum for info on this area and would like folks opinions on how they see things in Albury, Lavington and North Albury at present and what they feel it may be like in future.

Specifically I'm looking at units. Some are showing strong yields especially in Lavington, which I understand is a lower socio-economic area, however has reasonable amentity with shops, transport, schools, etc.

Although I would have no interest in Wodonga (for VIC land tax reasons), does this region (Albury/Wodonga combined) have enough critical mass with population, jobs, the uni's, etc to be a good long term prospect.

With the cheaper rents at the places I'm targeting, I'm feeling that even if jobs are lost the tenancies could easily be Centrelink funded.

Any info and thoghts from local residents or folks who have IP's there would be appreciated.

 

[bailz66]

Somthing to consider is that the hume highway albury bypass went live some time recently which direct much of the traffic out of the town.

This means that a lot of the shops along this stretch of road (Heads straight through laverton) will see less customers as it brought many many vehicles into the town.

That said reduced traffic means that the areas are more desirable. I havent lived in the area for 7 years but its something to think about.

 

[Carl]

Just my thoughts, but when things get bad, doesn't a certain % of people tend to move towards the major cities for work and easier public transport?

Personally i don't like what i count as country areas because i work on the above logic of ready employment, but i'd be interested in what other people who know more about Albury think.

I remember having to always stop in Albury on the way down to Melbourne. Was a lot larger town than i previously thought!! What are the major sources of employment there? Would it be counted as a major satelleite town? I remember seeing an article (i think API) talking albury up...

 

[emu]

I have a couple of units in lavington and 2 shop fronts on the old hume hwy in Nth Albury near 5 ways intersection.

The Albury city council has plans to upgrade the shopping strip with streetscaping (paving, laying power underground, tree planting etc), and was considering turning the area into a cafe precinct.

About 3 yrs ago they asked bussinesses and owners for proposals to upgrade the area.

Now that the hwy has been bypassed they are surveying the change in traffic volumns to see what proposals can be implemented.

It's been over a year since i have contacted the council about this particular issue, so this should promt me to do so.

There have been stories that Nth Albury - Lavington area is primed to be the new centre of Albury because the new housing areas are mainly focused on the thurgoona - springdale heights areas.

If i was going to buy in this area i would be looking at Wodonga with the railway being relocated from the centre of town to melrose drv.
This will bring the area nth of the existing railway(batt ave, bank st,etc) back into the city centre.
The entire area is to be redeveloped and the potential that comes with having a 1000 sqmtr block right next door to this area, plus overlooking the lagoon at sumsion gardens would be hard to pass up.
I am tempted but with everything going on around us at the moment i am playing it safe............but then again

Cheers

 

[Player]

Thanks for your input folks.

Hopefully the potential upgrade will add value to your stock up there Emu. Your info about Wodonga is appreciated, however I do prefer interstate now to spread the land tax load around a bit.

 

[units4me]

Albury will always dominate as Wodonga's larger twin. I really like Albury, a great city. Very much a city in it's own right as people there don't seem to look to the major cities for services etc, like they do in other regional areas. Very self reliant i suppose. Does that make any sense?
Anyway, I see a terrific future for Albury, freeway has now improved the access and reduced truck traffic. It has a very high profile also, as the only large-ish town on the Syd-Melb route.
I would also consider buying there for the same reasons as you Player, land tax.

 

[our obsession]

Albury/Wodonga...

No IP's there...family at Charles Sturt Uni, came close to doing a build there, opted for Bendigo instead....just because..... because...

Wodonga 1994 median house price was: $108,000.....2004 MHP: $231,000....change in that 10 yrs..115%

Wodonga...1997-2007 change was: 117% ...........growth P/A: 8.1% ......2007 MHP: $250,000

Wodonga West change 97-07: 129% ...Growth P/A 8.6% .......07 MHP: $270,000

(figures from vic valuer-general)

Anyhow, we are there regularly, good developments going on, new library+museum, (is just part thereof a 30 million dollars going into further work of central city).


Following info, some from family over there, but mainly: Weekly Times feature article 26/11/08

Have included both cities, they are after all like pepper and salt, apart from land tax issues naturally:

-Yes, as mentioned, Hume Freeway

-22 million dollar inland freight port

-medical centre (6 storey, Albury CBD, day surgery, allied health services, luxury apartments, cafe..) worth 30 million dollars going in, and open.

-Further works at Charles Sturt Uni, ($7 million) Thurgoona teaching facilities expansion.

-City has approved commercial/industrial development ($208 million)

-New housing estates in development:
White Box Rise
Alpine Views
Castel Verde
Wattle Glen
The Ridge and North West Wodonga

Talking of Wodonga, the railway line is being removed from city centre, plus, a $12 million aquatic/leisure centre going in. (Near/at White Box Rise apparently).

-Upgrade to Albury's airport, which has 200 flights p/week...to tune of $5 million...(completion next yr).

-Wodonga Institute of TAFE, building a $12 million Nat. Industrial Skills Training Centre driver training..(2009)

Wodonga-new industrial 23 lot subdivision @ Baranduda, 5 sold apparently.

-New Dep't of Defence Logistics warehouse, worth $30 million (2009)

-$25 million cinema/bowling alley/cafes/shops/apartments @ Wodonga=PROPOSED

-Wodonga-> $10 million Homemakers centre, 12 shopfronts, opens December 08?

-Quest Apartments 59 room development built in Albury CBD, opens Dec 08?

-$14 million 2 storey retail/commercial centre, (Albury), creating pedestrian link b/w Albury centre-Volt Lane retail area. (Comm. Jan 09?)

VIctoria's unemployment is 4.3% Wodonga's is 3.9% they need, metal fabrication skilled people, boilermakers, welders, nurses, design engineers, heavy rig drivers. But a few.

Albury/Wodonga, maybe a drought and economic crisis but swimming strong.