IF AN investment property is on your list, you're in the right place.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Wagga has been classed in the top 10 regional Australian centres for real estate investment prospects.
A report released by hotspotting.com.au suggests regional centres, including Wagga and Albury-Wodonga, are more viable than city centres with low house and land prices, solid rental returns and potential for price growth.
Davis Real Estate licensee Helen Davis said the opportunity for investment in Wagga was backed by a constant transient population with the airforce, army and university.
The report indicates some regional towns were returning yields of between 6 and 7 per cent, while cities sat between 3 and 4 per cent.
"For the return you get and because we have a transient community with the airforce, army and university, so many people come here and stay for up to five or six years," Ms Davis, a real estate agent since 1973, said.
"Investment always goes really well.
"For what you pay and the return you get, it's very attractive."
She estimated 80 per cent of her landlords were from out of town and mostly interested in the central Wagga area given the proximity to shops and transport.
Another dominant Wagga market were parents of university students, who opted to buy over rent, and those looking to invest in the interest of their superannuation schemes.
"I guess it's guaranteed income and return," Ms Davis said.
"It's mostly long-term investment.
"(Wagga) doesn't have quick capital growth but in the meantime, there's good rent returns."
Hotspotting founder Terry Ryder claimed regional Australia had many locations with growth prospects and solid properties for less than $250,000
"I think property investors tend to overlook the regions," he said.
"They underrate them.
"They think to get the best growth you have to be in the capital cities and that is not necessarily the case."
