All Topics / General Property / Wagga Wagga

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  • Profile photo of DaveybearDaveybear
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    @daveybear
    Join Date: 2008
    Post Count: 8
    August 20, 2013 - 10:36 pm

    Hi guys and gals,

                                   I am looking at investing in April next year and was wondering if anyone has some insights about Wagga  Wagga. I have looked at the council website, ABS stats , real estate.com for data. My goal was to renovate and sell to get some cash for other plans. Anyone got any thoughts would love to hear it.

    Dave

    Profile photo of Jamie MooreJamie Moore
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    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    August 21, 2013 - 2:36 am

    Hi Dave

    Wagga is a fairly consistent market when it comes to growth. It doesn't seem to experience big booms and busts but travels along nicely. 

    There's two distinct markets in Wagga – the cheap stock in some of the less desirable areas and then there's everything else.

    Talk to some local REAs about flipping. I know there's some investors who actively purchase the ex dept. of housing stock, renovate and then on sell. Maybe start with talking to someone at LJ Hooker – I think they pick up most of these listings.

    Cheers

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

    Profile photo of DaveybearDaveybear
    Participant
    @daveybear
    Join Date: 2008
    Post Count: 8
    August 21, 2013 - 3:17 am

    Hi Jamie,

    Thanks for the feedback. I will look into it. Yes I have had a few people raise their eyebrows when I mention Wagga but I think it has opportunities. The info I have received shows stability with some growth and a less than national average in unemployment. I will keep researching.

    Thanks

    Dave

    Profile photo of Jamie MooreJamie Moore
    Participant
    @jamie-m
    Join Date: 2010
    Post Count: 5,069
    August 21, 2013 - 3:59 am

    I think Wagga's fine. Like anywhere though – carry out your due diligence (which it seems like you are) and make sure that the property fits in with your overall investing plans. 

    Best of luck.

    Jamie

    Jamie Moore | Pass Go Home Loans Pty Ltd
    http://www.passgo.com.au
    Email Me | Phone Me

    Mortgage Broker assisting clients Australia wide Email: [email protected]

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