Albury-Wodonga, NSW-VIC border
Regional Victoria remains a stand-out market on price performance and increasingly, growth markets are being found some distance from Melbourne. The twin cities of Albury-Wodonga at the NSW border comprise one such market.
The building industry has helped to advance the Albury-Wodonga economy in the last five years. Around $1 billion has been spent on construction in Albury and new land estates are common in the growing Wodonga municipality.
The twin cities draw value from other industries too, including manufacturing, government administration, education, defence and retail. Many national businesses, as well as the Australian Taxation Office, are based there - while the Defence Force has recently engaged TAFE Victoria in an extensive training program for its personnel.
This makes Albury-Wodonga one of Australia’s strongest regional economies, with great diversity and the presence of numerous national and international businesses, attracted by its strategic location and good rail and road links.
Affordability, above-average rental returns and low vacancies are part of Albury-Wodonga’s appeal for investors. The strength of the local economy, which underpins its real estate market, is another positive factor.
This report covers the suburbs of Albury, Baranduda, East Albury, Lavington, North Albury, South Albury, Thurgoona, West Albury, West Wodonga and Wodonga.