Wagga Wagga

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

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  1. crest133

    crest133 Member

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    it's outside Wagga residential area really, 10 kms from Wagga CBD, basically a RAAF area, airport attachment, small supermarket, wouldn't expect any reasonable CG there, so if that's true would hope the yield would be higher.
    I'd prefer to look nearer the town or Uni maybe. New houses being built near the Uni.
    Cheers
    crest133
     
  2. Allgood

    Allgood Member

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    hmmm, I tend to agree about the Capital Growth. Turvey looked like a goer if you could get something for the right money. What about Glenfield? I hear there are good and bad parts.
     
  3. Ajax

    Ajax Member

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    Don't call Wagga Wagga Wagga!!!!!!!!!!

    Saw it on a T-shirt at Wagga Wagga airport
     
  4. Allgood

    Allgood Member

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    ... and don't call Woy Woy Woy...
     
  5. Coconutwheels

    Coconutwheels Member

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    Or Wee Waa, Wee ;)
     
  6. Richard Feynman

    Richard Feynman Mortgage Broker

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    Forest Hill is out near the airport (domestic flights only) and considered a bit far out of town by a lot of locals (20 min drive).

    Nothing majorly wrong with the area though, just keep that in mind. And wagga folk aren't used to flight noise, so even small domestic plans could irk potential tenants.

    I don't have a crystal ball, but Wagga has been very flat for quite a while and isn't showing signs of capital growth. Cashflow, on the other hand, is there for the taking.
     
  7. TMNT

    TMNT Member

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    what would everyone do

    have one in ashmont, been vacant sinc decemeber, but advertised for 4 months without success,

    its just got broken into for the second time in 7 months, and this is while the house is all boarded up

    very tempted to sell the damn place, I d come out breakeven or a few k extra after selling fees
     
  8. beachgurl

    beachgurl Member

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    The ferals don't come outside during winter. I think it would be a struggle for any property in Wagga to be retenanted in winter, even in the better parts of town.

    I had a property vacant for 4 or 5 months some time ago in Ashmont. Touch wood I've been fortunate ever since. It is the one property I own where I get nervous whenever the PM mentions that the tenants are thinking of vacating.

    As the weather warms up the market will improve.

    Can you afford a rent reduction? There seems to be a few properties on the rental market and compared to last year's rates they seem to be lower by $20-40 per week. There looks to be a few houses for sale too.

    I think I will sell mine in Ashmont in the not too distant future. Vandalism tends to be the most expensive holding cost at present, even with a tenant in there.

    sorry I haven't answered your question but I just think winter is a sucky time to have to do anything in Wagga.
     
  9. Brady

    Brady Big 4 Banker

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    Mine took around 2-3 weeks to be retenanted. New tenants are just going in now. It is a much quieter time of year, had around 2-3 other applications but they weren't from quality tentants. Have put them on a 6 month lease on PM recommendation so they're due at the busy time of year.
     
  10. crest133

    crest133 Member

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    I'll be in Wagga back at our motel on Mon 4 th August, could swing by Ashmont n sms a pic or 2 if that helps. PM me if i can assist.
    Cheers
    crest133
     
  11. Swearengen

    Swearengen Member

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    I am interested in investing in Wagga - anyone care to share recent experiences/knowledge?
     
  12. Corey Batt

    Corey Batt Finance Broker

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    Don't buy in Ashmont. :)
     
  13. D.T.

    D.T. Property Lookerafterer

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    or tolland
     
  14. Swearengen

    Swearengen Member

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    is Wagga worth a look generally?
     
  15. Corey Batt

    Corey Batt Finance Broker

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    Why do you think it's worth looking at?
     
  16. Swearengen

    Swearengen Member

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    yields are good, prices are low, place seems well services by facilities and could have potential to develop further in the future. as a regional investment opportunity it seems to present well. if there is an agriculature boom in the future it seems well positioned to go well out of that? the other place i was looking at was Mildura for similiar reasons.
     
  17. crest133

    crest133 Member

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    Ag area for hours and hundreds of Kms around Wagga is heavy with great looking crops nearing harvest, canola coming off now, everything on four legs is fat. Riverina looks so heavy it's fit to cave in. Hope the last minute weather puts icing on the huge cake. Agricultural sector poised for a good harvest.

    Our motel in Wagga is going great too, just returned from there and some local touring. :D

    Ask any Wagga PM before considering Ashmont. Avoid.

    Cheers
    crest133
     
  18. beachgurl

    beachgurl Member

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    It really depends on the particular section of each suburb of Wagga. Parts of Kooringal are pretty bad too. The worst parts of town are around Toy Place and surrounding streets in Tolland, the area around the Ashmont shopping centre and the streets located in the centre of Ziegler Ave in Kooringal.
     
  19. knightm

    knightm Member

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    Vacancy in WW is a little high, not terrible, but just a bit soft for my liking.
     
  20. Swearengen

    Swearengen Member

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    Apparently much tighter in Nowra?