Investing in property in Wagga Wagga
Wagga Wagga is a regional centre located in the heart of the Riverina in NSW, with a population of just over 70,000. Wagga sits strategically midway between Sydney and Melbourne and provides a welcomed refuge from the hustle and bustle of a big city. Wagga’s local airport facilitates over 140 weekly flights to Sydney and Melbourne, bringing Wagga closer to the action.
Wagga Wagga Property Investment Opportunities at a Glance
Property Market Highlights
- Real estate in Wagga has seen a 9.3% increase in growth of property prices since Q1 of 2021.
- House rental yields in Wagga Wagga sits significantly above Sydney Metro.
- The demand for rental properties has increased over the past 12 months.
Infrastructure & Development Highlights
- Hume Link (electricity transmission upgrade from Wagga to near Goulburn) – $2 billion.
- Energy Connect (electricity interconnect to South Australia) – $2 billion.
- Snowy 2 & Snowy Connect (hydro generation upgrade & transmission works) – $5 billion.
- Defence estates upgrade (air force, army bases) – $1 billion.
- East/West Riverina renewable energy parks (wind & solar) – $4 billion.
- Bomen Special Activation Precinct – in particular RIFL (Riverina Intermodal Freight & Logistics Hub) – $200 million.
- Inland Rail (Albury to Illabo sector) – $1 billion.
- Regional telecommunications upgrades (NBN & other).
- UNSW teaching hospital Wagga Wagga – $16 million.
- CSU Drought Innovation Hub – $8 million PCYC complex Bolton Park – $26 million.
Economic Growth Highlights
- Seventh most diverse economy in Queensland
- Healthcare
- Education
- Recreation
- The city supports more than 5,600 businesses and 51,000 jobs, with an unemployment rate below the state average (2.5%).
Wagga Wagga Location & Lifestyle
The place has grown significantly in recent years as it offers a happy medium between city life and rural living where people can work, relax, and still enjoy affordable house prices and modern amenities. Thousands of Australians also come to Wagga Wagga every year for educational purposes; the city is serviced by three universities and world-class educational institutions. This is also the recruit training capital of the Australian Defence Force and the home of aviation technical training for the Navy, Army, and Air Force.
Wagga Wagga Property Market
Because of the city’s growing popularity, real estate in Wagga has seen a 9.3% increase in growth of property prices since Q1 of 2021, with a house sales median price of $630K in Q1 of 2022. With a vacancy rate of 0.8% in the same quarter, it outperformed Sydney which sat at 3.4% vacancy. House rental yields in Wagga Wagga were recorded at an attractive rate of 4.2% in March 2022, significantly above Sydney Metro (2.3%). With a lower entry price compared to Sydney Metro, this is great news for investors, particularly as demand for rental properties has increased.
Source: PDR – Market update mars 2022;
https://www.yourinvestmentpropertymag.com.au/top-suburbs/nsw/2650-wagga-wagga
Wagga Wagga Infrastructure & Development
Wagga Wagga is set to see approximately $1.0B worth of new infrastructure projects in 2022 and over $15 billion of infrastructure projects set for construction in the surrounding Riverina/Murray region over the next 5 to 10 years. These projects are slated to improve liveability for residents and create new jobs during the construction phase.
Wagga Wagga Economy
More than just a regional capital, Wagga Wagga is a diverse economic hub driving growth and investment specifically in industries such as healthcare, education, and recreation. Goods and services produced in the local government area generate around $4.5 billion annually, and in the wider Wagga Wagga retail and services catchment, figures are estimated at more than $6.5 billion.
The city supports more than 5,600 businesses and 51,000 jobs, with an unemployment rate below the state average over the past 5 years, currently sitting around 2.5 per cent.
Invest in Wagga Wagga
Stroud Homes Wagga Wagga has a wide range of properties ideal for investors looking for opportunities in this region, including Single story and Dual Occupancy dwellings. Check out our selection of House and land Packages designed specifically with you the Wagga Wagga property investor in mind.