In the 2ndhalf of 2018, Wagga house prices have strengthened showing an annual price increase of 4.2% to $370,000. While units have become more affordable, with prices softening by 17% during the same period to $217,500.
The volatility experienced in units can largely be attributed to the low sales volume of units in the local market which should encourage buyers not to be alarmed over the softening price.
Properties in Wagga are offering solid returns for investors, with rental yields of 4.7% (houses) and 4.8% (units). These are well above Sydney Metro figures (2.7% and 3.7% respectively).
In the 2ndHalf of 2018, the average vendor discount, being the average percentage difference between first list price and final sold price, dropped slightly for houses to -4.4% and halved to -4.7% for units. A positive sign for activity in the market and steady demand.
Average days on market for houses increased slightly to 91 days while units decreased by almost half to 84 days.
To obtain a full copy of the “PRD Wagga Wagga Property Factsheet 2nd Half 2018”, Email [email protected]