Most sought-after suburbs in Wagga Wagga
New data has revealed that Lake Albert is the most sought-after suburb for homebuyers in Wagga Wagga, NSW.
Recent research by realestate.com.au also pinpoints Wagga Wagga, Kooringal, Turvey Park and Bourkelands as in-demand suburbs with prospective buyers.
Tatton, Estella and Tolland also made the top ten list.
As property price growth remains flat in Sydney, there’s been an increased demand for real estate in regional areas of New South Wales.
Situated on the banks of the Murrumbidgee River, Wagga Wagga – known simply as ‘Wagga’ to locals – is the largest inland city in NSW.
In addition to being widely known as a key agricultural area, Wagga Wagga is renowned for being the birthplace of some of Australia’s best-known sporting heroes, including former Australian cricket captain Mark Taylor, rugby league great Peter Sterling and AFL legend Paul Kelly.
No wonder it’s known as the ‘City of Good Sports’.
The sporting city is a prime example of a regional area receiving growing interest from investors and homebuyers, with affordability being the biggest drawcard, according to Dave Skow, Director at RE/Max Elite- Wagga Wagga.
“What you can get for your money in terms of property is far greater than in metro areas,” says Skow.
“Wagga Wagga is also very well supported in terms of infrastructure, health services, schools and employment – particularly within agriculture.”
According to realestate.com.au’s chief economist, Nerida Consibee, Wagga Wagga’s median house price is $370,000 and the region has seen 4.23% growth in the last 12 months.
“Wagga Wagga is an attractive proposition for investors thanks to its high rental yield and potential for good capital growth,” says Consibee. “Charles Sturt University, the RAAF army base, and Kapooka army training centre also attracts people to the area.”
Top of the list: Lake Albert
Skow says Lake Albert is seeing an increase in buyer interest and is attracting young families in particular.
“It has a very popular school zone with decent state schools such as Lake Albert Public School and Kooringal High School.”
“It’s also close to Lake Albert itself, which has plenty of good walking tracks, boating, fishing, swimming – so it’s very popular with families.”
The family friendly outer suburb has a median sale price of $375,000 and a median rent of $360 per week.
Richard Rossiter, Principal, LJ Hooker-Wagga Wagga says it comes as no surprise that Lake Albert tops the list of Wagga Wagga’s most sought-after suburbs.
“There are plenty of reasons people want to live in Lake Albert,” says Rossiter.
“Obviously the lake is a big pull – Lake Albert offers a great outdoor lifestyle. There’s also a good shopping village and a very good primary school; people will move to Lake Albert to be within the school zone.”
“Being only 10 minutes out of town, Lake Albert is also very well positioned and has a lot of attractive lifestyle properties and a mix of large family homes on good-sized blocks, as well as small acreages.”
Nestled on the southern banks of Lake Albert is the unofficial suburb of Lakehaven, which Rossiter describes as “a newer, more exclusive area.”
On the western edge of the lake lies Lakeside, which offers properties with water views and a prime lakeside location.
In terms of units in Lake Albert, the market is limited.
“Lake Albert’s unit market is small, so when we see good quality units on the market buyer enquiry levels are high,” says Rossiter.
*Demand for each suburb is calculated by the number of property views per suburb on realestate.com.au over the past six months, against the average numbers of listings