Country NSW - Wagga Wagga

[kaz1974]

Hi All,

My research via a NSW residex report has revealled some explosive growth areas in NSW. One place that caught my eye was Wagga Wagga. It has a university and hospital. Its growth was over 20% and prices are quite cheap.

What people's thoughts on places like Wagga Wagga

Thanks

Kaz ... searching for his next IP

 

[Rolf Latham]

Hiya

I reckon unless you find something with dev potential, like many regionals it may have done its dash. part of the reason for the big growth was investors chasing cashflow. 3 years ago you could buy houses at 9 % yield and unit blocks at 14 to 18 %.

Now its almost half that, so its hard to see if any organic growth can occue.

ta
rolf

 

[crest133]

Military also at Wagga. Some big Club went broke there, Leagues or something like it. How the hell does a club go down with pokies ?
Good looking town otherwise, brand new huge motel. Glad it's not next door to me. I'm still sniffing around there though.
cheers
crest133

 

[gazvic]

Hi All,

Given that I have lived in Wagga for the last 11 years (and have married a local), I'll throw my 2 cents worth in. Wagga has a population of around 60,000, is about half way between Melb & Syd (about 5hrs each way) and about 2 &1/2 hours from Canberra. It has a large defence population (and is set to increase with the RAAF recruit's moving from S.A. in around 08') as well as a lot of university students (Charles Sturt University) - (both help drive the economy) there is also significant retail,industrial and manufacturing in Wagga as well as the primary production in the surrounding areas. Wagga was pretty dormant for a number of years in regards to capital growth in housing,and like most other areas the flow on effect followed when Sydney went off.

There has been a lot of new housing estates in the last few years mainly to the south & south/west of the city, and a lot more development soon to begin in the retail/motel/conference centre type area. I suppose when you look at housing in Sydney the prices here seem relatively cheap, but I have still (apart from my own home) purchased my IP's up north (QLD). That is not to say I wouldnt purchase anything here, but I feel at the moment I will get better growth in the capital cities. Anyway feel free to pm me for further info.

gaz