Albury's Property Market

Introduction

Albury, nestled along the picturesque Murray River in New South Wales, has emerged as a thriving regional hub. Known for its unique blend of urban amenities and natural beauty, Albury's property market continues to attract investors and homebuyers alike.

In this article, we explore the latest trends shaping Albury's property market, supported by credible data sources and visual insights.

Demographic & Economic Trends

Source: Australian Bureau of Statistics (ABS)

Population Growth

Albury's population has experienced steady growth, with a 1.5% annual increase over the past five years. Migration from metropolitan areas has been a significant contributor.  

Economic Indicators

  Albury’s economy is diversified across healthcare, education, and manufacturing, providing resilience against fluctuations in broader economic conditions.  

Key Highlight: The unemployment rate remains consistently below the national average, reflecting a stable and healthy labor market.

Unemployment Rate Trend

Source: ABS, Job and Skills Australia

Current Unemployment Rate:4.3%

 This figure is lower than the regional NSW average of 5.1%.  

Sector Performance: Growth in healthcare and education sectors continues to drive job creation.  

Unemployment Rate Comparison

Insight: A stable job market ensures Albury remains an attractive location for long-term investments.

Migration Trends & Population Growth Rates

Source: ABS 

Internal Migration:

  Albury has become a hotspot for people migrating from **Sydney and Melbourne**, driven by affordable housing and lifestyle benefits.  

Projected Growth:

By 2030, Albury's population is expected to grow to 60,000, up from the current 55,000.  

Median Price & Days on Market

Source: Domain Insights

Median House Price:

  $575,000 (Q3 2024), reflecting a 2.8% annual growth.  

Days on Market:

Properties in Albury sell within an average of 60 days, showcasing a high demand market.  

Median Prices Over Time

Trend: Houses in Albury are moving faster than in many other regional areas, underscoring strong buyer interest.

Demand vs Supply

Source: REA Insights

Demand Growth:

 

Buyer interest in Albury has surged by 15% YoY, particularly for family homes and investment properties.  

Supply Constraints

  A 9% YoY decline in new listings highlights tightening supply, increasing competition among buyers.  

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Long-Term New Supply Trend

Source: REA Insights

Over the past decade, Albury has seen moderate housing development, with an annual average of 200 new dwellings.  

Takeaway: This consistent supply has supported market balance, avoiding drastic price surges.  

Long-Term Price Trend

Source: Domain Insights

Albury's 10-year price growth showcases a 38% increase in median house prices, driven by strong investor confidence and demand for quality housing.  

Vacancy Rate Trend & Median Rent

Source: Domain Insights 

Vacancy Rate:

Albury's vacancy rate is a tight 1.2%, well below the healthy benchmark of 3%, reflecting a strong rental market.  

Median Rent 

 $450/week for houses, representing a 15% YoY increase.  

Investor Insight: Tight vacancy rates and rising rents make Albury a lucrative market for rental property investments.

Rental Yield Trend 

Source: Domain Insights

Albury boasts a gross rental yield of 4.1% for houses, outperforming many metropolitan areas.  

Why It Matters: High yields ensure consistent cash flow for investors.  

Long-Term Rental Price Trend

Source: Domain Insights

Rents in Albury have increased by 45% over the past decade, highlighting the long-term demand for rental properties.  

Conclusion

Albury's property market shines as a beacon of opportunity for investors and homebuyers. Key highlights include:  

1. Strong population growth
2. Low unemployment rates
3. Tight rental markets
4. Sustained price growth

These trends position Albury as a thriving regional property market with attractive investment potential.  

Sources

1. Australian Bureau of Statistics (ABS)

2. Job and Skills Australia

3. Domain Insights

4. REA Insights

About the Author

Julius Dabre

Co-founder of PropWealth, Julius transitioned from a distinguished 15-year career in IT to real estate. Leveraging his vast experience, Julius is dedicated to helping clients navigate the property market, providing data-driven guidance to match their aspirations for the perfect home.