News
Wagga Wagga - the place to be
Recent media reports have directed their attention to Wagga Wagga. According to The Australian columnist, Terry Ryder, Wagga Wagga is definitely on the radar for investors and developer’s alike, calling it a “sponge city”. More than 400 Wagga Wagga first home buyers took advantage of government grants last year, ranking it number 12 in the NSW top 20 list for first home buyers. Wagga Wagga was the only city outside Sydney to make the list.
Between 2001 and 2006 Wagga Wagga’s population grew at a steady rate of .08 per cent. There has been a strong population growth (17.1%) since 1981 and the population is projected to exceed 70,000 by the year 2013.
Wagga Wagga has performed reasonably well in the real estate sector over the years. From 2000 to 2008 the market showed at least some growth each year, with major spikes in 2003 and 2007. The median Wagga Wagga house price for 12 months ending November 2008 was $280,000.
A third of Wagga Wagga’s households rent which is above average for NSW. In the past 12 months the rental prices have increased, so too has the demand for rental properties. This can be attributed to the influx of new defense personnel, increased students at Charles Sturt University, the upgrade of the Hume highway and other developments.
With its growing population of 60,000 and steady growth in industry, business and service organisations, the future is bright for Wagga Wagga.