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Things To Learn About Wagga Real Estate Investment

Investing in real estate depends on location, and Wagga Wagga New South Wales has gained much momentum to become a top candidate for Australia’s best investment locations.

Due to the area’s variety, robust local economy, and population expansion, Wagga Wagga was ranked 12th for Australia’s best location investments.

The Wiradjuri, New South Wales’ most prominent Aboriginal tribe, were the areas first residents, and the name “Wagga Wagga” is taken from their native tongue. It is often assumed that the term “Wagga” means “crow” and that it may be translated as “place of many crows” by repeating the phrase.

Wagga Wagga has about 60,000 residents and serves a critical area for the state’s agricultural and armed services sectors.

Located in the heart of Riverina, Wagga Wagga city serves as a tourism attraction and family settlements, which add to short and long term capital growth. According to SQM Research, the city’s population rose by 1% between 2001 and 2006. In addition, with an average property price of $332,000 recorded in 2011, capital growth increased by 7% from the year previous, resulting in a  6% profit before taxes.

As of June 2021, the average house and unit price is $460,000 and $245,000, respectively. Annual growth consists of 3.6% for housing with an average rent cap of $380 per week. Wagga real estate rental units’ yearly growth stands at 1.2%, with an average rental fee of $300 per week.

Where to Buy or Rent in Wagga Wagga?

Beautiful Wagga real estate

Suppose you’ve never been to Wagga Wagga. In that case, you may not realise that the city is divided into 21 suburbs which offer various living experiences, all suited to families, young couples, singles, and students.

To give you an idea, we listed several Wagga real estate hot spots for those considering a move to the place of many crows.

Central Wagga Wagga – Central Wagga Wagga is the city’s centre and significant suburbs. Central Wagga is a busy place, with several eating choices, two retail complexes, the Murrumbidgee Turf Club, and numerous galleries and museums available for locals and tourists to enjoy.

Forrest Hill – Forest Hill is one of Wagga Wagga’s fastest-developing districts, with the Wagga Wagga Airport, RAAF Military base and Forest Hill Shopping Centre all locally placed.  Known for its family-friendly setting, Forrest Hill is ideal for young couples and families looking to settle, with only a 15 minute city-centre commute.

Glenfield Park – Glenfield Park is a prominent Wagga Wagga neighbourhood in the south. With accessible outlets like Aldi Supermarket, doctor clinics, retirement communities, this adds significant residential growth for homeowners and investors.

Why Invest in Wagga Wagga?

Various factors add to the increase of Wagga real estate. The sunny climates and vibrant areas like Fitzmaurice Street are a tourists dream with cafes and trendy bars. Although the coastline sits many miles from the City, Wagga Beach, on the Murrumbidgee River, certainly provides scenic comforts for locals and tourists to enjoy and is voted among the best inland beaches in Australia.

In terms of culture, Wagga Wagga’s local art gallery is a national showcase for studio glass, and there’s a fantastic museum about Riverina.

Education-wise, the city is credited for hosting Charles Sturt University and TAFE. Students move interstate and from overseas to attend each year, adding to the growth of the Wagga real estate rentals.

The city also houses an excellent health system that initiative elderly citizens to retire in comfortable and safe surroundings. In addition, Wagga real estate also benefits from the military base located in Forest Hill, which adds to cities economy through jobs and consistent travel activities.