Wagga Wagga Area

I think the suburbs you refer to are:
Ashmont, Tolland and Mount Austin.

Personally I haven't found much in Wagga that interests me, but Jacqui will have a much better idea of the area.

However there are bargains if you look hard enough.

I  know a real estate agent bought two positive geared properties in a nicer part of town a year ago. I was also shown two adjacent blocks of land with properties in the centre of town for an incredibly cheap price before it was released on the market.

Sold within 6 hrs – I was only beginning to look around at the time so didn't know its real worth.

Are you in Wagga yourself?

I think the HC areas of Wagga will improve over time. It seems that LJ Hooker is selling of a heap of ex HC properties each week, which are being snapped up by investors and rented out for decent yields. I own an IP in Ashmont, and touch wood, haven't had any dramas yet. The yield is high enough to make it CF neutral and as other poster mentioned, there seems to have been a bit of growth in the area recently. I think the time has passed when ex HC properties could be purchased for under $100k.

I just love Wagga, still looking for a motel there, pls let me know if you hear of one for sale.
You picked a great place to live Jacqui.
cheers
thecrest

Hi jadzia82,

I know the street as I was looking a buying an ex housing commission in Jack Avenue earlier in the year at auction and I missed out as it went well over what the agents predicted. I know there was a couple of houses in Townsend with extremly bad white ant damage where they had to gut the properties and practically start over. They required alot more work than a cosmetic reno. The agents quote between $200 – $240 p.w for most housing commission. $260 is possible depending on the quality of renovation you are doing and what time of year you would be leasing it out. Dec and Jan is the best in Wagga. There are quite a few rental properties on the market so you may not be able to fetch that amount. What is the purchase price or is going to be at auction? You can PM me if you would prefer. I can let you know of some previous sale prices if you want.

Jacqui

Lake Albert is a nice suburb. The lake itself isn't spectacular but the suburb has a nice family feel about it.

I was there in Jan 2010 and don't recall seeing any construction at the shops – maybe it started after I was there.

It is a little further out, but nothing seems too far away in Wagga (I think the drive to the CBD was about 10 mins).

What are the numbers telling you? When investing in regional areas, such as Wagga, I'd be looking for a decent rental yield. I've have an Investement Property Analysis spreadsheet that my clients use – it will give you an idea of how much the property will cost you to hold per week. Just shoot me an email if you'd like a copy.

Cheers,

Jamie

Sorry if thats hard to read, I didnt know how to copy in Quotes properly!

http://www.domain.com.au/Property/For-Sale/House/NSW/Kooringal/?adid=2008956794

Thought I would give this topic a bit of a bump…for those who are interested in Wagga (Kooringal – just south of Wagga)

Thoughts?

Hi Guys

I've been lurking for a while and thought I better join. Great site.
Tolland and the other DOH area's for me has potential. We just negotiated a 3 b/r house in good nick for 110k. Next door is under contract at 157k albeit with a clean reno. Rent should be 220 pw for a quick clean and tidy.

I'm hoping so. Based on the other sale results, there is no reason it shouldn't  re-value up allowing me to extract the original monies put in to purchase.