Albury Property Factsheet 2nd Half of 2018

Albury recorded a median house price of $355,000 and a median unit price of $152,000 in Q2 2018. This represents an annual price change (Q2 2017 – Q2 2018) of 8.6% and 4.6% respectively. Compared to the 1^st half of 2018 Albury research report, which reported an annual price change (Q4 2016-Q4 2017) of 1.5% and 3.7%, this suggests the Albury market has strengthened, whereby owners and investors can benefit from higher capital growth.

Average vendor discounting has slightly tightened for both houses and units, to -5.0% and -6.1% (respectively) in Q2 2018. This suggests that sellers are achieving final sale prices that are closer to their first list price, indicating now is the time to sell. Buyers looking to enter the market need to act as quickly as possible, as price growth is continuing to rise, and before average vendor discount tightens even further – as this means buyers will need to pay more.

Over the past 12months median rent for both houses and units has increased in Albury, by 3.2% and 4.5% respectively, to $320 per week and $230 per week in Q2 2018. Rental yield in City of Albury is 5.0% (house) and 5.8% (units) in June 2018, much higher than Sydney Metro (2.7% and 3.7% respectively), further confirming Albury as an affordable investment hotspot.

Albury is set to invest approximately $105.9M in future development for the 2^nd half of 2018, with the majority dedicated to residential projects (64.0% share, a total of $67.9M). A total of 1655 subdivision lots, 18 units, 212 dwellings, and 5 townhouses will be added to the property stock in Albury.