Hi,
I bought a property in Orange NSW in Jan of this year and have just had it revalued to find that it has already increased in value from $140k to $160k. I am now looking for a similiar property in a similiar town and will be using the equity from my Orange property as the deposit. Loan is all approved, just need to find a property.
I am considering buying a property in Albury NSW. Albury appears to be a big town with great potential. I have never visited and am basically after some information on the area.
I notice that there are 3 bedroom houses in Albury for under 150k. The majority of these cheap houses are in an area called Springdale Heights.
I would appreciate any opinions people have to offer on Albury in general, and in particular Springdale Heights.
Essentially, I would like to know, is it a good place to invest?
Cheers,
Ossi.
Don't stop here with your research. Use Google to find population growth or decline (compare this census to the 2006 census). Population growth usually leads to an increase in prices.
Also look at the industries supporting the town. If it is heavily one industry is it stable?
Someone on this forum might say "yes this is a good place to invest" but would you really believe them?
You need to do your own research. Speak to real estate agents and ask for trends over the last 12 months. Get a property magazine and analyse the stats in the back.
Hope these ideas help
Ryan McLean
Free Ebook "How To Find Positive Cash Flow Property"
http://CashFlowInvestor.com.auRyan McLean | On Property
http://onproperty.com.au
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