Wagga Wagga

Discussion in 'Where to Buy' started by Brady, 9th Oct, 2012.

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  1. Brady

    Brady Big 4 Banker

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    I lived there many years ago, would of only been ~5 or 6 years old... But from what Dads told me there was streets/areas that werent any good.

    Looking for some advise from those who own property or live in Wagga Wagga, are there areas that are really bad, not talking a little stigma but bad.

    EDIT - to expand...

    I believe that Wagga could have some potential growth, low purchase prices, high population growth, reasonable rental vacancies, good rental yields and found that alot of the old govt DOH are being sold to private investors who are completing renovations and then renting back out.
     
  2. nhg

    nhg Member

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    Wrote this post elsewhere in the past. Zeiglar and Bruce St were suss from memory. Mates have purchased and renovated properties in Wagga and done very well from them.
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    Central: Close to everything except university. Prices are steady and some flooding along Fitzpatrick St. University and professionals rent here.

    Wagga Wagga North: Flood area, a lot of the developments here are not approved.

    Mt Austin/Tolland/ Ashmont. Housing commission, some great bargains, though need to know the area as certain streets are really bad and to be honest, and every street is different from the next. Spent a lot of time doing community work here, actually nowhere near as bad as they make it out to be, definitely worth a look. Most of the local agents are a little ‘too close to home’ to know anything about the area and provide non bias feedback – may as well be another world with a giant fence and flaming sword blocking the entrance. Talk to indigenous liaison officer and police, may be more specific about which streets are which.

    Kooringal: Where I would say majority of the average folk reside, some good bargains at $300k is mark. Average familys rent here.

    Bourklands/Tatton: Tatton from memory was the more expensive of the two suburbs, nice looking area, poor soils in Tatton, could find your house will have cracks in the near future (beware agents talking up the area). Though the community was incredibly nice and friendly.

    Glenfield Park: Newer-ish developments, $400k nice new houses, big blocks. Not sure if I would invest here as there is plenty of land to be developed further back on church land. A lot of home-owners.

    Springvale: Larger blocks, kinda far from everything. Expensive for Wagga. Most residents like to keep to themselves.

    San Isidore: Considered far out of town by locals, and residents are generally against any new development.

    Forest Hill: Close to airport, and army barracks. Seems to be a spot to look at.

    Estella: Close to university, shops are being built/have been built there last I spoke with the local developer. Prices already seem a bit steep. University students rent here, and in central.

    Cartwrights Hill: Near abattoirs, smells, close to all industrial area.

    Areas further out like Ladysmith etc, have flood issues.
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  3. nhg

    nhg Member

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  4. Jamie M

    Jamie M Mortgage Broker - Oz Wide

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    If you're going to invest in Wagga I'd highly recommend actually visiting the place.

    Speak with local agents and suss out the area in person. I wouldn't purchase anything sight unseen.

    Cheers

    Jamie
     
  5. Brady

    Brady Big 4 Banker

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    Do you still own property there Jamie? What suburbs are your in?

    Are there any areas that you wouldnt look at? suburbs or streets?

    If I was to purchase in Wagga it would be sight unseen.
     
  6. Jamie M

    Jamie M Mortgage Broker - Oz Wide

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    I wouldn't buy sight unseen there - particularly if it's one of the auctioned off DoH properties.....but that's just me.

    Yep, I've got one in trashmont. Haven't owned it for too long so can't comment on growth.

    Cheers

    Jamie
     
  7. Brady

    Brady Big 4 Banker

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    I also dont think I would buy one of the auctioned off DOH properties sight unseen either, but would purchase sight unseen.

    How long have you had the property? what have the tenants been like?
    Would you care to share what street?
     
  8. jim1964

    jim1964 Part Time Sheep Farmer

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    I wouldnt buy anything sight unseen.The cost of looking at something if you are really interested worth a couple of hundred k,would be a small price to pay.Even with B&P reports,nothing imo beats eyeballing it for yourself.Treat it like a holiday,may even get a tax deduction from it...................;)
     
  9. Brady

    Brady Big 4 Banker

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    Different mind set :) I'm happy not to see a property, if I see it I might not buy it and loose money because it still could be a good investment.

    I'll eventually look at them maybe :)
     
  10. jim1964

    jim1964 Part Time Sheep Farmer

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    i like holidays. :)
     
  11. Brady

    Brady Big 4 Banker

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    Me too but always affects my work.

    My clients dont like me going on holidays :(
     
  12. DJBarnstar

    DJBarnstar Member

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    I bought one in Mt Austin up the top opposite the gardens and Willans hill.

    Haven't seen much growth in the 2 yrs I've had it but it has only been vacant for 5 days. New lease just signed for $345P/W. Paid $283K for a 4x2x2.
    OK yeild, but we'll move into it one day as family are there so not too concerned.
     
  13. Filo

    Filo Member

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    I grew up in wagga and lived there till i was 18. One place that I know that has grown is turvey park and has a stigma from people as the biggest mover from locals. The reason for it becoming quiet classy is cause people are buying the older houses and doing them up or extending as they have big blocks of land. It is also very central with over 6 schools with 4km radius, tafe, botanical gardens, numerous sporting fields, shops, bus lines Etc etc. Not a bad place especially for a buy reno and hold strategy as you will get good yields and hopefully some growth to.

    Hope this might help.
     
  14. Brady

    Brady Big 4 Banker

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    Looking for some local knowledge on some street/areas in Wagga.

    Want to know the "bad" streets. Aware that Zielger (kooringal) is bad in the middle... and bululo (ashmont) isnt much good.... looking in the Ashmont area

    Spoke to few different local agents and got really mixed veiws.

    Some said, lock your doors when you drive down there.

    Others said that they used to live in the area and parents still do.

    One said they wouldnt take any more properties in that particular area.
     
  15. jim1964

    jim1964 Part Time Sheep Farmer

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    2 out off 3 ??? :eek: No nothing about Wagga except its on the way to Sydney,and the truck stop burgers are good.Go for a drive............
     
  16. Brady

    Brady Big 4 Banker

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    2/3 probably say the same about Elizabeth ;) but as you know that doesn't fase me.

    They commented some street are really bad, but also said they can have issues in any areas, which happens with all rentals.

    I can't get out of work that easy Jim ;) people want to be in there houses before xmas! My old boy was actually on a road trip, got him to do drive-by of 4 different places, he didnt go inside the properties. But surprisingly the 2 out of 4 that he said were worth a second look where the cheapest of the 4 by $20-50k (dad didnt know the prices before he looked at them)
     
  17. jim1964

    jim1964 Part Time Sheep Farmer

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    Is that not what sick leave is supposed to be used for? :D
     
  18. Robbiep

    Robbiep Member

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    No need to take sick leave when you can delegate, although i always make sure my sick leave quota is used.
     
  19. jim1964

    jim1964 Part Time Sheep Farmer

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    AhA,me too.This year i have allocated 364 days absence.
     
  20. Brady

    Brady Big 4 Banker

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    Unfortunately or fortunately my clients don't really like it if I'm not there :)

    I do have few weeks off over Christmas (work usually quieter around this time), maybe a road trip??

    Might be scared if I actually see the properties in real life though :| haha