Fitzpatricks Real Estate

Fitzpatricks Real Estate has just released the fifth installment of the Wagga Real Estate Wrap, outlining what we can expect from Wagga Wagga’s property market this year.

Whilst we don’t have a crystal ball, it is hard to predict exactly what’s going to happen in 2010, however there are a few things that seem certain. The Real Estate Wrap outlines that interest rates are expected to increase. This is good news for Australia as rising interest rates generally means a stronger economy and better than expected employment rates.

Signs are good for a healthy real estate market in 2010. Investors will find reasonable rental returns and steady capital growth attractive enough to dip their feet into the local real estate market. Currently average yields are at 6% gross with some higher yields in certain pockets of town such as Glenfield Park, Estella, Kooringal, Forest Hill and other suburbs close to shopping, schools and recreation facilties.

The First Home Buyer market will slightly decrease this year compared to last year due to the reduction of the government grants, however investors and retirees will still make their presence known.

Stay tuned for the next Wagga Real Estate Wrap.